Twin Disc (TWIN) 10-K 31 Aug 17 2017 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Jun. 30, 2017	Aug. 24, 2017	Dec. 30, 2016
Document Information [Line Items]
Entity Registrant Name	TWIN DISC INC
Entity Central Index Key	100,378
Trading Symbol	twin
Current Fiscal Year End Date	--06-30
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		11,572,523
Entity Public Float			$ 123,053,259
Document Type	10-K
Document Period End Date	Jun. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	FY
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2017	Jun. 30, 2016
Current assets:
Cash	$ 16,367	$ 18,273
Accounts receivable, net	31,392	25,363
Inventories	66,193	66,569
Prepaid expenses	8,295	7,353
Other	7,187	7,477
Total current assets	129,434	125,035
Property, plant and equipment, net	48,212	51,665
Goodwill, net	2,585	5,120
Deferred income taxes	24,198	25,870
Intangible assets, net	2,009	2,164
Other assets	4,460	4,068
Total assets	210,898	213,922
Current liabilities:
Accounts payable	21,301	14,716
Accrued liabilities	23,222	21,415
Total current liabilities	44,523	36,131
Long-term debt	6,323	8,501
Accrued retirement benefits	33,706	48,705
Deferred income taxes	1,011	827
Other long-term liabilities	1,768	2,705
Total liabilities	87,331	96,869
Commitments and contingencies (Note O)
Equity:
Preferred shares authorized: 200,000; issued: none; no par value	0	0
Common shares authorized: 30,000,000; issued: 13,099,468; no par value	10,429	11,761
Retained earnings	169,368	175,662
Accumulated other comprehensive loss	(32,671)	(44,143)
Equity before treasury stock	147,126	143,280
Less treasury stock, at cost (1,580,335 and 1,749,294 shares, respectively)	24,205	26,790
Total Twin Disc shareholders' equity	122,921	116,490
Noncontrolling interest	646	563
Total equity	123,567	117,053
Total liabilities and equity	$ 210,898	$ 213,922

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares $ / shares in Thousands	Jun. 30, 2017	Jun. 30, 2016
Preferred Shares, Authorized (in shares)	200,000	200,000
Preferred Shares, Issued (in shares)	0	0
Preferred Shares, No Par Value (in dollars per share)	$ 0	$ 0
Common Shares, Authorized (in shares)	30,000,000	30,000,000
Common Shares, Issued (in shares)	13,099,468	13,099,468
Common Shares, No Par Value (in dollars per share)	$ 0	$ 0
Treasury Stock, Shares (in shares)	1,580,335	1,749,294

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Net Sales	$ 168,182	$ 166,282	$ 265,790
Cost of goods sold	119,950	125,687	182,758
Gross profit	48,232	40,595	83,032
Marketing, engineering and administrative expenses	52,773	57,113	64,264
Restructuring expenses	1,791	921	3,282
Goodwill and other asset impairment charge	2,646	7,602
Other operating expense (income)		(445)
(Loss) earnings from operations	(8,978)	(24,596)	15,486
Other income (expense):
Interest income	72	147	124
Interest expense	(303)	(426)	(606)
Other income (expense), net	(320)	(420)	896
Non-operating income (expense)	(551)	(699)	414
(Loss) earnings before income taxes and noncontrolling interest	(9,529)	(25,295)	15,900
Income tax (benefit) expense	(3,414)	(12,282)	4,515
Net (loss) earnings	(6,115)	(13,013)	11,385
Less: Net earnings attributable to noncontrolling interest, net of tax	(179)	(91)	(212)
Net (loss) earnings attributable to Twin Disc	$ (6,294)	$ (13,104)	$ 11,173
(Loss) earnings per share data:
Basic (loss) earnings per share attributable to Twin Disc common shareholders (in dollars per share)	$ (0.56)	$ (1.17)	$ 0.99
Diluted (loss) earnings per share attributable to Twin Disc common shareholders (in dollars per share)	$ (0.56)	$ (1.17)	$ 0.99
Weighted average shares outstanding data:
Basic shares outstanding (in shares)	11,239	11,203	11,273
Dilutive stock awards (in shares)			4
Diluted shares outstanding (in shares)	11,239	11,203	11,277
Comprehensive income (loss):
Net (loss) earnings	$ (6,115)	$ (13,013)	$ 11,385
Foreign currency translation adjustment	985	(1,557)	(14,119)
Benefit plan adjustments, net of income taxes of $6,149, ($3,340) and ($2,974), respectively	10,500	(7,080)	(5,499)
Comprehensive income (loss)	5,370	(21,650)	(8,233)
Less: Comprehensive income attributable to noncontrolling interest	(193)	(114)	(132)
Comprehensive income (loss) attributable to Twin Disc	$ 5,177	$ (21,764)	$ (8,365)

Consolidated Statements of Ope5

Consolidated Statements of Operations and Comprehensive Income (Parentheticals) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Benefit plan adjustments, tax	$ 6,149	$ (3,340)	$ (2,974)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Cash flows from operating activities:
Net (loss) earnings	$ (6,115)	$ (13,013)	$ 11,385
Adjustments to reconcile net (loss) earnings to net cash provided by operating activities:
Depreciation and amortization	7,017	8,847	10,161
Goodwill and other asset impairment charge	2,646	7,602
Stock compensation expense	1,615	1,295	696
Restructuring of operations	92	354	3,282
Provision for deferred income taxes	(4,245)	(12,203)	(442)
Other, net	7	74	215
Changes in operating assets and liabilities
Trade accounts receivable	(5,885)	18,422	(7,248)
Inventories	624	10,060	8,860
Other assets	(682)	938	(4,090)
Accounts payable	6,034	(6,285)	914
Accrued liabilities	983	(12,580)	380
Accrued/prepaid retirement benefits	1,087	(120)	(7,053)
Net cash provided by operating activities	3,178	3,391	17,060
Cash flows from investing activities:
Proceeds from sale of business (see Note P)		3,500
Proceeds from life insurance policy		2,002
Proceeds from sale of plant assets	217	124	279
Capital expenditures	(3,133)	(4,214)	(9,049)
Other, net	(126)	(270)	1,934
Net cash (used) provided by investing activities	(3,042)	1,142	(6,836)
Cash flows from financing activities:
Payments of senior notes		(3,571)	(3,600)
Borrowings under revolving loan agreement	53,920	89,473	83,681
Repayments under revolving loan agreement	(56,113)	(91,203)	(84,674)
Proceeds from exercise of stock options		12	15
Dividends paid to shareholders		(2,041)	(4,061)
Dividends paid to noncontrolling interest	(109)	(192)	(220)
Excess tax benefits (shortfall) from stock compensation		(349)	(26)
Payments of withholding taxes on stock compensation	(140)	(190)	(313)
Net cash used by financing activities	(2,442)	(8,061)	(9,198)
Effect of exchange rate changes on cash	400	(1,135)	(2,847)
Net change in cash	(1,906)	(4,663)	(1,821)
Cash:
Beginning of year	18,273	22,936	24,757
End of year	16,367	18,273	22,936
Supplemental cash flow information:
Interest	300	474	569
Income taxes	$ 27	$ 1,758	$ 5,061

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	Common Stock [Member]	Retained Earnings, Appropriated [Member]	AOCI Attributable to Parent [Member]	Treasury Stock [Member]	Noncontrolling Interest [Member]	Total
Balance at Jun. 30, 2014	$ 11,973	$ 183,695	$ (15,943)	$ (28,141)	$ 727	$ 152,311
Net (loss) earnings		11,173			212	11,385
Translation adjustments			(14,039)		(80)	(14,119)
Benefit plan adjustments, net of tax			(5,499)			(5,499)
Cash dividends		(4,061)			(220)	(4,281)
Compensation expense and windfall tax benefits	668					668
Shares (acquired) issued, net	(382)			84		(298)
Balance at Jun. 30, 2015	12,259	190,807	(35,481)	(28,057)	639	140,167
Net (loss) earnings		(13,104)			91	(13,013)
Translation adjustments			(1,582)		25	(1,557)
Benefit plan adjustments, net of tax			(7,080)			(7,080)
Cash dividends		(2,041)			(192)	(2,233)
Compensation expense and windfall tax benefits	946					946
Shares (acquired) issued, net	(1,444)			1,267		(177)
Balance at Jun. 30, 2016	11,761	175,662	(44,143)	(26,790)	563	117,053
Net (loss) earnings		(6,294)			179	(6,115)
Translation adjustments			972		13	985
Benefit plan adjustments, net of tax			10,500			10,500
Cash dividends					(109)	(109)
Compensation expense and windfall tax benefits	1,393					1,393
Shares (acquired) issued, net	(2,725)			2,585		(140)
Balance at Jun. 30, 2017	$ 10,429	$ 169,368	$ (32,671)	$ (24,205)	$ 646	$ 123,567

Note A - Significant Accounting

Note A - Significant Accounting Policies	12 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Significant Accounting Policies [Text Block]	A. SIGNIFICANT ACCOUNTING POLICIES The following is a summary of the significant accounting policies followed in the preparation of these financial statements: Consolidation Principles May 31, March 31. Management Estimates-- Translation of Foreign Currencies $318 $320 $491 2017, 2016 2015, Cash three not Accounts Receivable $1,519 $1,824 June 30, 2017 2016, may may Fair Value of Financial Instruments . 1 2 June 30, 2017. 2 Derivative Financial Instruments - Periodically, the Company enters into forward exchange contracts to reduce the earnings and cash flow impact of non-functional currency denominated receivables and payables. These contracts are highly effective in hedging the cash flows attributable to changes in currency exchange rates. Gains and losses resulting from these contracts offset the foreign exchange gains or losses on the underlying assets and liabilities being hedged. The maturities of the forward exchange contracts generally coincide with the settlement dates of the related transactions. Gains and losses on these contracts are recorded in other income (expense) as the changes in the fair value of the contracts are recognized and generally offset the gains and losses on the hedged items in the same period. The primary currency to which the Company was exposed in fiscal 2017 2016 June 30, 2017, one three $1,050 53 $29 June 30, 2017. no June 30, 2016. Inventories first first first Property, Plant and Equipment and Depreciation 10 40 5 15 not Impairment of Long-lived Assets may not may third Goodwill and Other Intangibles may not A significant amount of judgment is involved in determining if an indicator of impairment has occurred. Such indicators may The Company early-adopted the new goodwill guidance, ASU 2017 04, third 2017. one The Company conducted interim qualitative assessments throughout the year, and its annual assessment for goodwill impairment as of June 30, 2017 2016 2017 2016. The fair value of the Company’s other intangible assets with indefinite lives, primarily tradenames, is estimated using the relief-from-royalty method, which requires assumptions related to projected revenues; assumed royalty rates that could be payable if the Company did not June 30, 2017 no Changes in circumstances, existing at the measurement date or at other times in the future, or in the numerous estimates associated with management’s judgments, assumptions and estimates made in assessing the fair value of goodwill and other indefinite-lived intangibles, could result in an impairment charge in the future. The Company will continue to monitor all significant estimates and impairment indicators, and will perform interim impairment reviews as necessary. Any cost incurred to extend or renew the term of an indefinite lived intangible asset are expensed as incurred. Deferred Taxes not not Revenue Recognition third third third As more fully discussed in Recently Issued Accounting Standards, the Company expects to adopt ASU 2014 09 2019. may Shipping and Handling Fees and Costs Out-of-Period Adjustments third 2015, $175 June 30, 2014. $175 June 30, 2015. not June 30, 2015, During the fourth 2015, $470. $470. not June 30, 2015. Recently Issued Accounting Standards In March 2017, 2017 07 December 15, 2017, ( 2019 In October 2016, 2016 16 December 15, 2017 ( 2019 In August 2016, 2016 15 eight December 15, 2017 ( 2019 In March 2016, 2016 09 December 15, 2016 ( 2018 In February 2016, 2016 02 12 December 15, 2018 (the Company’s fiscal 2020 In preparation for the adoption of this guidance, the Company gathered all active lease contracts from all its locations to assess whether or not not twelve The Company is continuing its assessment, including the potential operational process changes as a result of the new guidance. It plans to early-adopt the guidance, using the modified retrospective approach, to coincide with its adoption of the new revenue recognition guidance, which is the first 2019. In July 2015, 2015 11 first December 15, 2016 ( 2018 not In August 2014, 2014 15 December 15, 2016 ( 2017 June 30, 2017 not In May 2014, 2014 09 December 15, 2017 ( first 2019 In preparation for the adoption of this guidance, the Company gathered customer contracts and customer purchase orders of its various locations to assess whether there are separate and distinct performance obligations, as defined by ASU 2014 09, may may may not first 2019. two not

Note B - Inventories

Note B - Inventories	12 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Inventory Disclosure [Text Block]	B. INVENTORIES The major classes of inventories at June 30 2017 2016 Finished parts $ 45,829 $ 45,622 Work in process 8,358 8,020 Raw materials 12,006 12,927 $ 66,193 $ 66,569 Inventories stated on a LIFO basis represent approximately 36% 33% June 30, 2017 2016, $26,422 $26,451 June 30, 2017 2016, $9,068 $8,823 June 30, 2017 2016,

Note C - Property, Plant and Eq

Note C - Property, Plant and Equipment	12 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	C. PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment at June 30 2017 2016 Land $ 6,556 $ 6,497 Buildings 46,479 45,808 Machinery and equipment 134,039 132,969 187,074 185,274 Less: accumulated depreciation (138,862 ) (133,609 ) $ 48,212 $ 51,665 Depreciation expense for the years ended June 30, 2017, 2016 2015 $6,849, $8,682 $9,922,

Note D - Goodwill and Other Int

Note D - Goodwill and Other Intangibles	12 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	D. GOODWILL AND OTHER INTANGIBLES Goodwill The Company reviews goodwill for impairment on a reporting unit basis annually as of the end of the fiscal year, and whenever events or changes in circumstances (“triggering events”) indicate that the carrying value of goodwill may not As of June 30, 2016, two no no two two 805, The fair value of reporting units is primarily driven by projected growth rates and operating results under the income approach using a discounted cash flow model, which applies an appropriate market-participant discount rate, and consideration of other market approach data from guideline public companies. The Company experienced sustained declines in operating results across the business during fiscal 2016, June 30, 2016 13.1% one two $6,391, $1,211. 31% no During the third 2017, 2017 04. one The fair value of reporting units is primarily driven by projected growth rates and operating results under the income approach using a discounted cash flow model, which applies an appropriate market-participant discount rate, and consideration of other market approach data from guideline public companies. If declining actual operating results or future operating results become indicative that the fair value of the Company’s reporting units has declined below their carrying values, an interim goodwill impairment test may may may may For the quarter ended March 31, 2017, no March 31, 2017. not March 31, 2017. In accordance with ASU 2017 04, 13.1%, $2,550 The changes in the carrying amount of goodwill are summarized as follows: Net Book Value Rollforward Net Book Value By Reporting Unit Gross Carrying Amount Accumulated Impairment Net Book Value US Industrial European Industrial European Propulsion Other Balance at June 30, 2015 $ 16,459 $ (3,670 ) $ 12,789 $ 8,941 $ 2,542 $ 1,281 $ 25 Sale of business (25 ) - (25 ) - - - (25 ) Impairment - (7,602 ) (7,602 ) (6,391 ) - (1,211 ) - Translation adjustment (42 ) - (42 ) - 28 (70 ) - Balance at June 30, 2016 16,392 (11,272 ) 5,120 2,550 2,570 - - Impairment - (2,550 ) (2,550 ) (2,550 ) - - - Translation adjustment 15 - 15 - 15 Balance at June 30, 2017 $ 16,407 $ (13,822 ) $ 2,585 $ - $ 2,585 $ - $ - The total non-cash impairment charges of $2,550 $7,602 2017 2016, not As at June 30, 2017, $2,585 57% no Other Intangibles At June 30, Net Book Value Rollforward Net Book Value By Asset Type Gross Carrying Amount Accumulated Amortization / Impairment Net Book Value Licensing agreements Trade Name Other Balance at June 30, 2015 $ 13,272 $ (11,299 ) $ 1,973 $ 510 $ 1,459 $ 4 Addition 138 138 138 Amortization (164 ) (164 ) (60 ) (81 ) (23 ) Translation adjustment 16 16 15 1 Balance at June 30, 2016 13,426 (11,463 ) 1,963 450 1,393 120 Amortization (168 ) (168 ) (60 ) (80 ) (28 ) Translation adjustment 10 (1 ) 9 6 3 Balance at June 30, 2017 $ 13,436 $ (11,632 ) $ 1,804 $ 390 $ 1,319 $ 95 Other intangibles consist of certain amortizable acquisition costs, proprietary technology, computer software and certain customer relationships. The weighted average remaining useful life of the intangible assets included in the table above is approximately 13 Intangible amortization expense for the years ended June 30, 2017, 2016 2015 $168, $165 $239, five Fiscal Year 2018 $ 180 2019 177 2020 156 2021 150 2022 143 Thereafter 997 The gross carrying amount of the Company’s intangible assets that have indefinite lives and are not June 30, 2017 2016 $205 $201,

Note E - Accrued Liabilities

Note E - Accrued Liabilities	12 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	E. ACCRUED LIABILITIES Accrued liabilities at June 30 2017 2016 Salaries and wages $ 6,714 $ 4,851 Retirement benefits 3,027 3,550 Customer advances/deferred revenue 2,423 2,372 Distributor rebate 2,183 2,538 Warranty 1,708 2,532 Other 7,167 5,572 $ 23,222 $ 21,415

Note F - Warranty

Note F - Warranty	12 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Product Warranty Disclosure [Text Block]	F. WARRANTY The Company warrants all assembled products, parts (except component products or parts on which written warranties are issued by the respective manufacturers thereof and are furnished to the original customer, as to which the Company makes no no 12 24 June 30: 2017 2016 Reserve balance, July 1 $ 3,607 $ 5,245 Current period expense 615 646 Payments or credits to customers (2,179 ) (2,278 ) Translation adjustment 19 (6 ) Reserve balance, June 30 $ 2,062 $ 3,607 The current portion of the warranty accrual ( $1,708 $2,532 2017 2016, $354 $1,075 2017 2016,

Note G - Debt

Note G - Debt	12 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Debt Disclosure [Text Block]	G. DEBT Long-term Debt Long-term debt consisted of the following at June 30: 2017 2016 Revolving loan agreement $ 6,285 $ 8,478 Other 38 23 Subtotal 6,323 8,501 Less: current maturities - - Total long-term debt $ 6,323 $ 8,501 The revolving loan agreement as of June 30, 2017 April 22, 2016 June 30, 2017, $28,580, $21,365 June 30, 2017, 2.80%. The aggregate scheduled maturities of outstanding long-term debt obligations in subsequent years are as follows: Fiscal Year 2018 $ 2 2019 3 2020 3 2021 6,288 2022 3 Thereafter 24 $ 6,323 Other lines of credit : The Company has established unsecured lines of credit, which may $1,472 4.9% June 30, 2017, $1,470 5.4% June 30, 2016.

Note H - Lease Commitments

Note H - Lease Commitments	12 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Leases of Lessee Disclosure [Text Block]	H. LEASE COMMITMENTS The Company leases certain office and warehouse space, as well as production and office equipment. Approximate future minimum rental commitments under noncancellable operating leases are as follows: Fiscal Year 2018 $ 2,435 2019 859 2020 597 2021 515 2022 484 Thereafter 238 $ 5,128 Total rent expense for operating leases approximated $2,982, $3,240 $3,550 2017, 2016 2015,

Note I - Shareholders' Equity

Note I - Shareholders' Equity	12 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	I. SHAREHOLDERS' EQUITY The total number of shares of common stock outstanding at June 30, 2017, 2016 2015 11,519,133, 11,350,174 11,267,347, June 30, 2017, 2016 2015, 1,580,335, 1,749,294 1,832,121 168,959, 83,377 49,314 2017, 2016 2015, 0 1,750 2017 2016, Under an authorization given by the Board of Directors on July 27, 2012, not three June 30, 2017, 2016, 2015, 315,000 Cash dividends per share were $0.00, $0.18 $0.36 2017, 2016 2015, Effective June 30, 2008, one May 1, 2012. one four $125, ten 20% 30% 20% 20% ten 20% 30% may two not no The Rights will expire at the close of business on June 30, 2018, may not $.01 $.01 The Company is authorized to issue 200,000 none 150,000 The components of accumulated other comprehensive loss included in equity as of June 30, 2017 2016 2017 2016 Translation adjustments $ 6,130 $ 5,158 Benefit plan adjustments, net of income taxes of $21,601 and $27,750 respectively (38,801 ) (49,301 ) Accumulated other comprehensive loss $ (32,671 ) $ (44,143 ) A reconciliation for the changes in accumulated other comprehensive income (loss), net of tax, by component for the years ended June 30, 2015, June 30, 2016 June 30, 2017 Translation Benefit Plan Adjustment Adjustment Balance at June 30, 2014 $ 20,779 $ (36,722 ) Other comprehensive loss before reclassifications (14,039 ) (7,518 ) Amounts reclassified from accumulated other comprehensive income - 2,019 Net current period other comprehensive loss (14,039 ) (5,499 ) Balance at June 30, 2015 $ 6,740 $ (42,221 ) Translation Benefit Plan Adjustment Adjustment Balance at June 30, 2015 $ 6,740 $ (42,221 ) Other comprehensive loss before reclassifications (1,582 ) (10,101 ) Amounts reclassified from accumulated other comprehensive income - 3,021 Net current period other comprehensive loss (1,582 ) (7,080 ) Balance at June 30, 2016 $ 5,158 $ (49,301 ) Translation Benefit Plan Adjustment Adjustment Balance at June 30, 2016 $ 5,158 $ (49,301 ) Other comprehensive income before reclassifications 972 8,025 Amounts reclassified from accumulated other comprehensive income - 2,475 Net current period other comprehensive income 972 10,500 Balance at June 30, 2017 $ 6,130 $ (38,801 ) A reconciliation for the reclassifications out of accumulated other comprehensive income (loss), net of tax for the year ended June 30, 2015 Amount Reclassified Amortization of benefit plan items Actuarial losses $ (3,074 ) Transition asset and prior service benefit (36 ) Total before tax benefit (3,110 ) Tax benefit 1,091 Total reclassification net of tax $ (2,019 ) A reconciliation for the reclassifications out of accumulated other comprehensive income (loss), net of tax for the year ended June 30, 2016 Amount Reclassified Amortization of benefit plan items Actuarial losses $ (4,355 ) Transition asset and prior service benefit (92 ) Total before tax benefit (4,447 ) Tax benefit 1,426 Total reclassification net of tax $ (3,021 ) A reconciliation for the reclassifications out of accumulated other comprehensive income (loss), net of tax for the year ended June 30, 2017 Amount Reclassified Amortization of benefit plan items Actuarial losses $ (3,821 ) Transition asset and prior service benefit (101 ) Total before tax benefit (3,922 ) Tax benefit 1,447 Total reclassification net of tax $ (2,475 )

Note J - Business Segments and

Note J - Business Segments and Foreign Operations	12 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	J. BUSINESS SEGMENTS AND FOREIGN OPERATIONS The Company and its subsidiaries are engaged in the manufacture and sale of marine and heavy duty off-highway power transmission equipment. Principal products include marine transmissions, surface drives, propellers and boat management systems, as well as power-shift transmissions, hydraulic torque converters, power take-offs, industrial clutches and controls systems. The Company sells to both domestic and foreign customers in a variety of market areas, principally pleasure craft, commercial and military marine markets, energy and natural resources, government, and industrial markets. Net sales by product group is summarized as follows: 2017 2016 2015 Industrial $ 28,769 $ 32,437 $ 42,078 Land based transmissions 42,386 29,028 76,450 Marine and propulsion systems 91,629 98,925 141,137 Other 5,398 5,892 6,125 Total $ 168,182 $ 166,282 $ 265,790 Industrial products include clutches, power take-offs and pump drives sold to the agriculture, recycling, construction and oil and gas markets. The land based transmission products include applications for oilfield and natural gas, military and airport rescue and fire fighting. The marine and propulsion systems include marine transmission, controls, surface drives, propellers and boat management systems for the global commercial, pleasure craft and patrol boat markets. Other products includes non-Twin Disc manufactured product sold through Company-owned distribution entities. The Company has two The accounting practices of the segments are the same as those described in the summary of significant accounting policies. Transfers among segments are at established inter-company selling prices. Management evaluates the performance of its segments based on net earnings. Information about the Company's segments is summarized as follows: 2017 Manufacturing Distribution Total Net Sales $ 146,491 $ 67,804 $ 214,295 Intra-segment sales 13,146 7,296 20,442 Inter-segment sales 22,921 2,750 25,671 Interest income 42 32 74 Interest expense 301 - 301 Income taxes 1,684 784 2,468 Depreciation and amortization 6,125 425 6,550 Net earnings attributable to Twin Disc 629 2,438 3,067 Assets 222,136 50,418 272,554 Expenditures for segment assets 2,674 290 2,964 2016 Manufacturing Distribution Total Net Sales $ 140,965 $ 74,199 $ 215,164 Intra-segment sales 11,476 7,854 19,330 Inter-segment sales 26,883 2,669 29,552 Interest income 117 25 142 Interest expense 397 1 398 Income taxes (2,554 ) 108 (2,446 ) Depreciation and amortization 7,536 471 8,007 Net (loss) earnings attributable to Twin Disc (12,694 ) 762 (11,932 ) Assets 221,590 52,719 274,309 Expenditures for segment assets 3,850 188 4,038 2015 Manufacturing Distribution Total Net Sales $ 232,545 $ 120,594 $ 353,139 Intra-segment sales 19,541 9,584 29,125 Inter-segment sales 54,947 3,277 58,224 Interest income 171 33 204 Interest expense 946 - 946 Income taxes 7,125 1,646 8,771 Depreciation and amortization 8,103 502 8,605 Net earnings attributable to Twin Disc 12,861 6,350 19,211 Assets 246,374 62,134 308,508 Expenditures for segment assets 7,335 1,271 8,606 The following is a reconciliation of reportable segment net sales and net (loss) earnings to the Company’s consolidated totals: 2017 2016 2015 Net sales: Total net sales from reportable segments $ 214,295 $ 215,164 $ 353,139 Elimination of inter-company sales (46,113 ) (48,882 ) (87,349 ) Total consolidated net sales $ 168,182 $ 166,282 $ 265,790 Net (loss) earnings attributable to Twin Disc: Total net earnings (loss) from reportable segments $ 3,067 $ (11,932 ) $ 19,211 Other adjustments and corporate expenses (9,361 ) (1,172 ) (8,038 ) Total consolidated net (loss) earnings attributable to Twin Disc $ (6,294 ) $ (13,104 ) $ 11,173 Corporate expenses pertain to certain costs that are not Other significant items: Segment Consolidated Totals Adjustments Totals 2017 Interest income $ 74 $ (2 ) $ 72 Interest expense 301 2 303 Income taxes 2,468 (5,882 ) (3,414 ) Depreciation and amortization 6,550 467 7,017 Assets 272,554 (61,656 ) 210,898 Expenditures for segment assets 2,964 169 3,133 2016 Interest income $ 142 $ 5 $ 147 Interest expense 398 28 426 Income taxes (2,446 ) (9,836 ) (12,282 ) Depreciation and amortization 8,007 840 8,847 Assets 274,309 (60,387 ) 213,922 Expenditures for segment assets 4,038 176 4,214 2015 Interest income $ 204 $ (80 ) $ 124 Interest expense 946 (340 ) 606 Income taxes 8,771 (4,256 ) 4,515 Depreciation and amortization 8,605 1,556 10,161 Assets 308,508 (58,646 ) 249,862 Expenditures for segment assets 8,606 443 9,049 All adjustments represent inter-company eliminations and corporate amounts. Geographic information about the Company is summarized as follows: 2017 2016 2015 Net sales United States $ 82,730 $ 77,147 $ 131,198 Italy 12,176 13,294 14,457 Australia 10,913 9,943 10,454 Canada 9,962 8,699 13,661 China 7,936 9,019 19,712 Other countries 44,465 48,180 76,308 Total $ 168,182 $ 166,282 $ 265,790 Net sales by geographic region are based on product shipment destination. Long-lived assets primarily pertain to property, plant and equipment and exclude goodwill and other intangibles. They are summarized as follows: Long-lived assets 2017 2016 United States $ 34,310 $ 37,319 Belgium 7,399 7,154 Switzerland 7,324 7,145 Italy 1,829 1,638 Other countries 1,810 2,477 Total $ 52,672 $ 55,733 The Company has one 11% 12% 2017 2016, 12% 11% 2016 2015,

Note K - Stock-based Compensati

Note K - Stock-based Compensation	12 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	K. STOCK-BASED COMPENSATION In fiscal 2011, 2010 “2010 250,000 2010 “2010 may 650,000 Shares available for future awards as of June 30 2017 2016 2010 Employee Incentive Plan 97,609 333,054 2010 Directors' Plan 100,426 144,656 Performance Stock Awards (“PSA”) In fiscal 2017, 2016 2015, 109,598, 60,466 16,261 2017 three June 30, 2019. 164,397. not 2016 three June 30, 2018. 90,699. not 2015 June 30, 2017. No 2017, 2016, 2015, not 170,064, 72,217 25,949 June 30, 2017, 2016 2015, June 30, 2017, 2016 2015, $59, $54 $0, June 30, 2017 $12.32. June 30, 2017, $1,981 2017 2016 2017, 2016 2015 $ 0 Performance Stock Unit Awards (“PSU”) There were no 2017 2016. 2015, 15,861 June 30, 2017. No 2017, 2016, 2015 not no June 30, 2017, 11,351 29,855 2016 2015, June 30, 2017, no 2017, 2016 2015 $ 0 June 30, 2017 June 30, 2016, no Restricted Stock Awards (“RS”) The Company has unvested RS outstanding that will vest if certain service conditions are fulfilled. The fair value of the RS grants is recorded as compensation over the vesting period, which is generally 1 3 2017, 2016 2015, 181,828, 95,738 59,494 0, 1,750 46,240 2017, 2016 2015, 269,584, 142,971 94,183 June 30, 2017, 2016 2015, $1,555, $1,241 $696 June 30, 2017, 2016 2015, 2017, 2016 2015 $587, $681 $993, June 30, 2017, $1,569 three Stock Options The 2010 may ten 2010 may 2010 10% not 110% five no 10% no 2010 2010 June 30, 2017 2016. 2004 The Company has 13,200 June 30, 2017 2004 2004 2004 2011, Stock option transactions under the 2004 2017 Weighted Average Weighted Remaining Aggregate Average Contractual Intrinsic 2017 Price Life (years) Value Non-qualified stock options: Options outstanding at beginning of year 16,800 $ 16.80 Granted - - Canceled/expired (3,600 ) 18.01 Exercised - - Options outstanding at June 30 13,200 $ 16.47 2.09 $ 35.5 Options price range ( $10.01 $27.55 In addition, the Company computes its windfall tax pool using the shortcut method. ASC 718, 100% During fiscal 2017, 2016 2015 no no 2017, 2016 2015, The total intrinsic value of options exercised during the years ended June 30, 2017, 2016 2015 $0, $4 $55,

Note L - Engineering and Develo

Note L - Engineering and Development Costs	12 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Research, Development, and Computer Software Disclosure [Text Block]	L. ENGINEERING AND DEVELOPMENT COSTS Engineering and development costs include research and development expenses for new products, development and major improvements to existing products, and other costs for ongoing efforts to refine existing products. Research and development costs charged to operations totaled $1,547, $1,805 $2,288 2017, 2016 2015, $8,888, $9,481 $11,091 2017, 2016 2015,

Note M - Pension and Other Post

Note M - Pension and Other Postretirement Benefit Plans	12 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Pension and Other Postretirement Benefits Disclosure [Text Block]	M. PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS The Company has non-contributory, qualified defined benefit pension plans covering substantially all domestic employees hired prior to October 1, 2003, January 1, 1997, January 1, 1997 July 31, 2009, In addition, the Company has unfunded, non-qualified retirement plans for certain management employees and Directors. In the case of management employees, benefits are based on an annual credit to a bookkeeping account, intended to restore the benefits that would have been earned under the qualified plans, but for the earnings limitations under the Internal Revenue Code. In the case of Directors, benefits are based on years of service on the Board. All benefits vest upon retirement from the Company. In addition to providing pension benefits, the Company provides other postretirement benefits, including healthcare and life insurance benefits for certain domestic retirees. All employees retiring after December 31, 1992, 100% The measurement date for the Company’s pension and postretirement benefit plans in fiscal 2017 2016 June 30. Obligations and Funded Status The following table sets forth the Company's defined benefit pension plans’ and other postretirement benefit plans’ funded status and the amounts recognized in the Company's balance sheets and statement of operations and comprehensive income as of June 30: Other Pension Postretirement Benefits Benefits 2017 2016 2017 2016 Change in benefit obligation: Benefit obligation, beginning of year $ 129,056 $ 127,733 $ 15,933 $ 16,372 Service cost 1,009 770 20 28 Interest cost 4,213 4,968 420 604 Actuarial (gain) loss (6,980 ) 7,043 (3,380 ) 496 Contributions by plan participants 139 143 472 519 Benefits paid (9,267 ) (11,601 ) (1,891 ) (2,086 ) Benefit obligation, end of year $ 118,170 $ 129,056 $ 11,574 $ 15,933 Change in plan assets: Fair value of assets, beginning of year $ 94,164 $ 104,681 $ - $ - Actual return on plan assets 7,967 (1,442 ) - - Employer contribution 1,369 2,383 1,419 1,567 Contributions by plan participants 139 143 472 519 Benefits paid (9,267 ) (11,601 ) (1,891 ) (2,086 ) Fair value of assets, end of year $ 94,372 $ 94,164 $ - $ - Funded status $ (23,798 ) $ (34,892 ) $ (11,574 ) $ (15,933 ) Amounts recognized in the balance sheet consist of: Other assets - noncurrent $ 694 $ 654 $ - $ - Accrued liabilities - current (706 ) (805 ) (1,654 ) (1,969 ) Accrued retirement benefits - noncurrent (23,786 ) (34,741 ) (9,920 ) (13,964 ) Net amount recognized $ (23,798 ) $ (34,892 ) $ (11,574 ) $ (15,933 ) Amounts recognized in accumulated other comprehensive loss consist of (net of tax): Net transition obligation $ 790 $ 285 $ - $ - Actuarial net loss 37,140 45,850 871 3,166 Net amount recognized $ 37,930 $ 46,135 $ 871 $ 3,166 The amounts in accumulated other comprehensive loss that are expected to be recognized as components of net periodic benefit cost during the next fiscal year for the qualified domestic defined benefit and other postretirement benefit plans are as follows: Other Pension Postretirement Benefits Benefits Net transition obligation $ 100 $ - Actuarial net loss 3,037 12 Net amount to be recognized $ 3,137 $ 12 The accumulated benefit obligation for all defined benefit pension plans was approximately $118,170 $129,056 June 30, 2017 2016, Information for pension plans with an accumulated benefit obligation in excess of plan assets : June 30 2017 2016 Projected and accumulated benefit obligation $ 117,250 $ 127,528 Fair value of plan assets 92,758 91,982 Components of Net Periodic Benefit Cost: Pension Benefits 2017 2016 2015 Service cost $ 1,009 $ 770 $ 465 Interest cost 4,213 4,968 4,862 Expected return on plan assets (5,902 ) (6,874 ) (7,272 ) Amortization of transition obligation 35 33 36 Amortization of prior service cost 66 59 - Amortization of actuarial net loss 3,591 3,627 2,436 Net periodic benefit cost $ 3,012 $ 2,583 $ 527 Other Postretirement Benefits 2017 2016 2015 Service cost $ 21 $ 28 $ 30 Interest cost 420 604 579 Amortization of actuarial net loss 230 728 638 Net periodic benefit cost $ 671 $ 1,360 $ 1,247 Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income for Fiscal 201 7 (Pre-tax): Other Postretirement Pension Benefits Net gain $ (9,057 ) $ (3,380 ) Prior service cost (10 ) - Amortization of transition asset (35 ) - Amortization of prior service cost (66 ) - Amortization of net (loss) gain (3,613 ) (230 ) Total recognized in other comprehensive income (12,781 ) (3,610 ) Net periodic benefit cost 3,012 671 Total recognized in net periodic benefit cost and other comprehensive income $ (9,769 ) $ (2,939 ) Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income for Fiscal 201 6 (Pre-tax): Other Postretirement Pension Benefits Net loss $ 15,514 $ 496 Prior service cost 58 - Amortization of transition asset (33 ) - Amortization of prior service cost (59 ) - Amortization of net (loss) gain (3,627 ) (728 ) Total recognized in other comprehensive income 11,853 (232 ) Net periodic benefit cost 2,583 1,360 Total recognized in net periodic benefit cost and other comprehensive income $ 14,436 $ 1,128 Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income for Fiscal 201 5 (Pre-tax): Other Postretirement Pension Benefits Net loss $ 9,406 $ 882 Amortization of transition asset (36 ) - Amortization of net (loss) gain (2,436 ) (638 ) Total recognized in other comprehensive income 6,934 244 Net periodic benefit cost 527 1,247 Total recognized in net periodic benefit cost and other comprehensive income $ 7,461 $ 1,491 Additional Information Assumptions Other Pension Benefits Postretirement Benefits Weighted average assumptions used to determine benefit obligations at June 30 2017 2016 2017 2016 Discount rate 3.51% 3.35% 3.41% 3.27% Expected return on plan assets 6.68% 6.57% Other Pension Benefits Postretirement Benefits Weighted average assumptions used to determine net periodic benefit costs for years ended June 30 2017 2016 2015 2017 2016 2015 Discount rate 3.35% 4.05% 4.06% 3.27% 3.93% 3.76% Expected return on plan assets 6.57% 7.11% 7.39% The assumed weighted-average healthcare cost trend rate was 7.25% 2017, 5% 2022. 1% $250 $10. 1% $221 $9. Plan Assets The Company’s Benefits Committee (“Committee”), a non-board management committee, oversees investment matters related to the Company’s funded benefit plans. The Committee works with external actuaries and investment consultants on an ongoing basis to establish and monitor investment strategies and target asset allocations. The overall objective of the Committee’s investment strategy is to earn a rate of return over time to satisfy the benefit obligations of the pension plans and to maintain sufficient liquidity to pay benefits and address other cash requirements of the pension plans. The Committee has established an Investment Policy Statement which provides written documentation of the Company’s expectations regarding its investment programs for the pension plans, establishes objectives and guidelines for the investment of the plan assets consistent with the Company’s financial and benefit-related goals, and outlines criteria and procedures for the ongoing evaluation of the investment program. The Company employs a total return on investment approach whereby a mix of investments among several asset classes are used to maximize long-term return of plan assets while avoiding excessive risk. Investment risk is measured and monitored on an ongoing basis through quarterly investment portfolio reviews, and annual liability measurements. The Company’s pension plan weighted-average asset allocations at June 30, 2017 2016 Target June 30 Asset Category Allocation 2017 2016 Equity securities 65% 65% 63% Debt securities 25% 25% 25% Real estate 10% 10% 12% 100% 100% 100% Due to market conditions and other factors, actual asset allocation may 98,211 $1,585.1 1.7 June 30, 2017 98,211 $1,054.8 1.1 June 30, 2016. The plans have a long-term return assumption of 7.0%. Fair value is defined as the price that would be received on the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The inputs used to measure fair value are classified into the following hierarchy: Level I Unadjusted quoted prices in active markets for identical instruments Level II Unadjusted quoted prices in active markets for similar instruments, or Unadjusted quoted prices for identical or similar instruments in markets that are not Other inputs that are observable in the market or can be corroborated by observable market data Level III Use of one The following table presents plan assets using the fair value hierarchy as of June 30, 2017: Total Level I Level II Level III Cash and cash equivalents $ 1,203 $ 1,203 $ - $ - Equity securities: Company common stock (a) 1,585 1,585 - - Common stock (a) 23,263 23,263 - - Mutual funds (b) 11,259 11,259 - - Annuity contracts (c) 7,779 - - 7,779 Total $ 45,089 $ 37,310 $ - $ 7,779 Investments Measured at Net Asset Value (d) 49,283 Total $ 94,372 The following table presents plan assets using the fair value hierarchy as of June 30, 2016: Total Level I Level II Level III Cash and cash equivalents $ 1,143 $ 1,143 $ - $ - Equity securities: Company common stock (a) 1,055 1,055 - - Common stock (a) 22,440 22,440 - - Mutual funds (b) 11,432 11,432 - - Annuity contracts (c) 9,031 - - 9,031 Total $ 45,101 $ 36,070 $ - $ 9,031 Investments Measured at Net Asset Value (d) 49,063 Total $ 94,164 (a) Common stock is valued at the closing price reported on the active market on which the individual securities are traded. These securities include U.S. equity securities invested in companies that are traded on exchanges inside the U.S. and international equity securities invested in companies that are traded on exchanges outside the U.S. (b) Mutual funds are valued at the daily closing price as reported by the fund. Mutual funds held by the Company’s funded benefit plans are open-end mutual funds that are registered with the Securities Exchange Commission. These funds are required to publish their daily net asset value (“NAV”) and to transact at that price. The mutual funds held by the Company’s funded benefit plans are deemed to be actively traded. (c) Annuity contracts represent contractual agreements in which payments are made to an insurance company, which agrees to pay out an income or lump sum amount at a later date. Annuity contracts are valued at the net present value of future cash flows. (d) In accordance with ASC 820 10, not The following table sets forth additional disclosures for the fair value measurement of the fair value of pension plan assets that calculate fair value based on NAV per share practical expedient as of June 30, 2017 June 30, 2016: 2017 2016 Fixed income funds $ 20,819 $ 20,842 International equity securities 4,760 3,793 Real estate 8,566 10,537 Hedged equity mutual funds 15,138 13,891 Total $ 49,283 $ 49,063 The following tables present a reconciliation of the fair value measurements using significant unobservable inputs (Level III) as of June 30, 2017 2016 2017 2016 Beginning balance $ 9,031 $ 9,508 Actual return on plan assets: Relating to assets still held at reporting date 659 38 Purchases, sales and settlements, net (1,911 ) (619 ) Transfers in and/or out of Level III - 104 Ending balance $ 7,779 $ 9,031 Cash Flows Contributions The Company expects to contribute $2,265 2018. Estimated Future Benefit Payments The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid: Other Pension Postretirement Benefits Benefits 2018 $ 10,890 $ 1,682 2019 9,399 1,348 2020 9,161 1,238 2021 8,681 1,144 2022 8,130 1,044 Years 2023 - 2027 35,760 3,907 The Company does not The Company sponsors defined contribution plans covering substantially all domestic employees and certain foreign employees. These plans provide for employer contributions based primarily on employee participation. The total expense under the plans was $1,658, $2,058 $2,526 2017, 2016 2015,

Note N - Income Taxes

Note N - Income Taxes	12 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Income Tax Disclosure [Text Block]	N. INCOME TAXES United States and foreign earnings before income taxes and minority interest were as follows: 2017 2016 2015 United States $ (13,048 ) $ (29,293 ) $ 5,614 Foreign 3,519 3,998 10,286 $ (9,529 ) $ (25,295 ) $ 15,900 The provision (benefit) for income taxes is comprised of the following: 2017 2016 2015 Currently payable: Federal $ (191 ) $ (1,683 ) $ 1,607 State 251 136 518 Foreign 771 1,468 2,832 831 (79 ) 4,957 Deferred: Federal (3,906 ) (10,978 ) 408 State (706 ) (787 ) 5 Foreign 367 (438 ) (855 ) (4,245 ) (12,203 ) (442 ) $ (3,414 ) $ (12,282 ) $ 4,515 The components of the net deferred tax asset as of June 30 2017 2016 Deferred tax assets: Retirement plans and employee benefits $ 13,755 $ 19,106 Foreign tax credit carryforwards 7,620 8,887 Federal tax credits 1,131 191 State net operating loss and other state credit carryforwards 1,213 768 Federal net operating loss 2,299 - Inventory 1,992 1,775 Reserves 833 1,544 Foreign NOL carryforwards 3,606 3,176 Accruals 460 522 Other assets 665 678 33,574 36,647 Deferred tax liabilities: Property, plant and equipment 5,488 6,329 Intangibles 971 2,011 Other liabilities 125 140 6,584 8,480 Valuation Allowance (3,803 ) (3,123 ) Total net deferred tax assets $ 23,187 $ 25,044 The Company maintains valuation allowances when it is more likely than not not 2017, not $3,803 not $680 2017 not Following is a reconciliation of the applicable U.S. federal income taxes to the actual income taxes reflected in the statements of operations: 2017 2016 2015 U.S. federal income tax at 34% $ (3,240 ) $ (8,601 ) $ 5,491 Increases (reductions) in tax resulting from: Foreign tax items (179 ) (2,525 ) 362 State taxes (499 ) (374 ) 32 Valuation allowance (47 ) (1,288 ) (1,121 ) Change in prior year estimate 899 473 157 Research and development tax credits (230 ) (348 ) (337 ) Section 199 deduction - - (96 ) Unrecognized tax benefits 65 (21 ) 5 Goodwill impairment - 420 - Other, net (183 ) (18 ) 22 $ (3,414 ) $ (12,282 ) $ 4,515 The Company has not no $3,667 June 30, 2017. not Annually, the Company files income tax returns in various taxing jurisdictions inside and outside the United States. In general, the tax years that remain subject to examination are 2013 2017 2013. The Company has approximately $827 June 30, 2017, twelve 2015. Below is a reconciliation of beginning and ending amount of unrecognized tax benefits: June 30, 2017 June 30, 2016 Unrecognized tax benefits, beginning of year $ 790 $ 810 Additions based on tax positions related to the prior year - 12 Additions based on tax positions related to the current year 55 172 Reductions based on tax positions related to the prior year (13 ) (4 ) Subtractions due to statutes closing (5 ) (179 ) Settlements with Taxing Authorities - (21 ) Unrecognized tax benefits, end of year $ 827 $ 790 Substantially all of the Company’s unrecognized tax benefits as of June 30, 3017, June 30, 2017 2016, $94 $61, not

Note O - Contingencies

Note O - Contingencies	12 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	O. CONTINGENCIES The Company is involved in litigation of which the ultimate outcome and liability to the Company, if any, are not not

Note P - Restructuring of Opera

Note P - Restructuring of Operations	12 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Restructuring, Impairment, and Other Activities Disclosure [Text Block]	P. RESTRUCTURING OF OPERATIONS In response to challenging global market conditions within the Company’s oil and gas, global pleasure craft and commercial marine markets, the Company undertook a series of restructuring actions starting in late fiscal 2015, In March 2017, $96 During fiscal 2017, 158 June 2015. $1,791, $921 $3,282 2017, 2016 2015, June 30, 2017 $5,875. The following is a roll-forward of restructuring activity: Accrued restructuring liability, June 30, 2015 $ 3,776 Additions 921 Payments and adjustments (3,896 ) Accrued restructuring liability, June 30, 2016 801 Additions 1,791 Payments and adjustments (2,500 ) Accrued restructuring liability, June 30, 2017 $ 92 During fiscal 2016, one $4,100 $600, $3,500. $445

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Schedule of Valuation and Qualifying Accounts Disclosure [Text Block]	T WIN DISC, INCORPORATED AND SUBSIDIARIES SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS for the years ended June 30, 20 17, 20 16 and 20 15 n thousands) Balance at Charged to Balance at Beginning Costs and End of Description of Period Expenses Deductions (1) Period 2017: Allowance for losses on accounts receivable $ 1,824 $ 127 $ 432 $ 1,519 Deferred tax valuation allowance $ 3,123 $ 826 $ 146 $ 3,803 2016: Allowance for losses on accounts receivable $ 2,183 $ 237 $ 596 $ 1,824 Deferred tax valuation allowance $ 3,577 $ 257 $ 711 $ 3,123 2015: Allowance for losses on accounts receivable $ 3,637 $ 304 $ 1,758 $ 2,183 Deferred tax valuation allowance $ 5,593 $ 805 $ 2,821 $ 3,577 ( 1

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Consolidation Principles May 31, March 31.
Use of Estimates, Policy [Policy Text Block]	Management Estimates--
Foreign Currency Transactions and Translations Policy [Policy Text Block]	Translation of Foreign Currencies $318 $320 $491 2017, 2016 2015,
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash three not
Receivables, Policy [Policy Text Block]	Accounts Receivable $1,519 $1,824 June 30, 2017 2016, may may
Fair Value of Financial Instruments, Policy [Policy Text Block]	Fair Value of Financial Instruments . 1 2 June 30, 2017. 2
Derivatives, Policy [Policy Text Block]	Derivative Financial Instruments - Periodically, the Company enters into forward exchange contracts to reduce the earnings and cash flow impact of non-functional currency denominated receivables and payables. These contracts are highly effective in hedging the cash flows attributable to changes in currency exchange rates. Gains and losses resulting from these contracts offset the foreign exchange gains or losses on the underlying assets and liabilities being hedged. The maturities of the forward exchange contracts generally coincide with the settlement dates of the related transactions. Gains and losses on these contracts are recorded in other income (expense) as the changes in the fair value of the contracts are recognized and generally offset the gains and losses on the hedged items in the same period. The primary currency to which the Company was exposed in fiscal 2017 2016 June 30, 2017, one three $1,050 53 $29 June 30, 2017. no June 30, 2016.
Inventory, Policy [Policy Text Block]	Inventories first first first
Property, Plant and Equipment, Policy [Policy Text Block]	Property, Plant and Equipment and Depreciation 10 40 5 15 not
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]	Impairment of Long-lived Assets may not may third
Goodwill and Intangible Assets, Policy [Policy Text Block]	Goodwill and Other Intangibles may not A significant amount of judgment is involved in determining if an indicator of impairment has occurred. Such indicators may The Company early-adopted the new goodwill guidance, ASU 2017 04, third 2017. one The Company conducted interim qualitative assessments throughout the year, and its annual assessment for goodwill impairment as of June 30, 2017 2016 2017 2016. The fair value of the Company’s other intangible assets with indefinite lives, primarily tradenames, is estimated using the relief-from-royalty method, which requires assumptions related to projected revenues; assumed royalty rates that could be payable if the Company did not June 30, 2017 no Changes in circumstances, existing at the measurement date or at other times in the future, or in the numerous estimates associated with management’s judgments, assumptions and estimates made in assessing the fair value of goodwill and other indefinite-lived intangibles, could result in an impairment charge in the future. The Company will continue to monitor all significant estimates and impairment indicators, and will perform interim impairment reviews as necessary. Any cost incurred to extend or renew the term of an indefinite lived intangible asset are expensed as incurred.
Income Tax, Policy [Policy Text Block]	Deferred Taxes not not
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition third third third As more fully discussed in Recently Issued Accounting Standards, the Company expects to adopt ASU 2014 09 2019. may
Shipping and Handling Cost, Policy [Policy Text Block]	Shipping and Handling Fees and Costs
Out-of-Period Adjustments [Policy Text Block]	Out-of-Period Adjustments third 2015, $175 June 30, 2014. $175 June 30, 2015. not June 30, 2015, During the fourth 2015, $470. $470. not June 30, 2015.
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Issued Accounting Standards In March 2017, 2017 07 December 15, 2017, ( 2019 In October 2016, 2016 16 December 15, 2017 ( 2019 In August 2016, 2016 15 eight December 15, 2017 ( 2019 In March 2016, 2016 09 December 15, 2016 ( 2018 In February 2016, 2016 02 12 December 15, 2018 (the Company’s fiscal 2020 In preparation for the adoption of this guidance, the Company gathered all active lease contracts from all its locations to assess whether or not not twelve The Company is continuing its assessment, including the potential operational process changes as a result of the new guidance. It plans to early-adopt the guidance, using the modified retrospective approach, to coincide with its adoption of the new revenue recognition guidance, which is the first 2019. In July 2015, 2015 11 first December 15, 2016 ( 2018 not In August 2014, 2014 15 December 15, 2016 ( 2017 June 30, 2017 not In May 2014, 2014 09 December 15, 2017 ( first 2019 In preparation for the adoption of this guidance, the Company gathered customer contracts and customer purchase orders of its various locations to assess whether there are separate and distinct performance obligations, as defined by ASU 2014 09, may may may not first 2019. two not

Note B - Inventories (Tables)

Note B - Inventories (Tables)	12 Months Ended
	Jun. 30, 2017
Notes Tables
Schedule of Inventory, Current [Table Text Block]	2017 2016 Finished parts $ 45,829 $ 45,622 Work in process 8,358 8,020 Raw materials 12,006 12,927 $ 66,193 $ 66,569

Note C - Property, Plant and 27

Note C - Property, Plant and Equipment (Tables)	12 Months Ended
	Jun. 30, 2017
Notes Tables
Property, Plant and Equipment [Table Text Block]	2017 2016 Land $ 6,556 $ 6,497 Buildings 46,479 45,808 Machinery and equipment 134,039 132,969 187,074 185,274 Less: accumulated depreciation (138,862 ) (133,609 ) $ 48,212 $ 51,665

Note D - Goodwill and Other I28

Note D - Goodwill and Other Intangibles (Tables)	12 Months Ended
	Jun. 30, 2017
Notes Tables
Schedule of Goodwill [Table Text Block]	Net Book Value Rollforward Net Book Value By Reporting Unit Gross Carrying Amount Accumulated Impairment Net Book Value US Industrial European Industrial European Propulsion Other Balance at June 30, 2015 $ 16,459 $ (3,670 ) $ 12,789 $ 8,941 $ 2,542 $ 1,281 $ 25 Sale of business (25 ) - (25 ) - - - (25 ) Impairment - (7,602 ) (7,602 ) (6,391 ) - (1,211 ) - Translation adjustment (42 ) - (42 ) - 28 (70 ) - Balance at June 30, 2016 16,392 (11,272 ) 5,120 2,550 2,570 - - Impairment - (2,550 ) (2,550 ) (2,550 ) - - - Translation adjustment 15 - 15 - 15 Balance at June 30, 2017 $ 16,407 $ (13,822 ) $ 2,585 $ - $ 2,585 $ - $ -
Schedule of Acquired Finite-Lived Intangible Assets by Major Class [Table Text Block]	Net Book Value Rollforward Net Book Value By Asset Type Gross Carrying Amount Accumulated Amortization / Impairment Net Book Value Licensing agreements Trade Name Other Balance at June 30, 2015 $ 13,272 $ (11,299 ) $ 1,973 $ 510 $ 1,459 $ 4 Addition 138 138 138 Amortization (164 ) (164 ) (60 ) (81 ) (23 ) Translation adjustment 16 16 15 1 Balance at June 30, 2016 13,426 (11,463 ) 1,963 450 1,393 120 Amortization (168 ) (168 ) (60 ) (80 ) (28 ) Translation adjustment 10 (1 ) 9 6 3 Balance at June 30, 2017 $ 13,436 $ (11,632 ) $ 1,804 $ 390 $ 1,319 $ 95
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	Fiscal Year 2018 $ 180 2019 177 2020 156 2021 150 2022 143 Thereafter 997

Note E - Accrued Liabilities (T

Note E - Accrued Liabilities (Tables)	12 Months Ended
	Jun. 30, 2017
Notes Tables
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]	2017 2016 Salaries and wages $ 6,714 $ 4,851 Retirement benefits 3,027 3,550 Customer advances/deferred revenue 2,423 2,372 Distributor rebate 2,183 2,538 Warranty 1,708 2,532 Other 7,167 5,572 $ 23,222 $ 21,415

Note F - Warranty (Tables)

Note F - Warranty (Tables)	12 Months Ended
	Jun. 30, 2017
Notes Tables
Schedule of Product Warranty Liability [Table Text Block]	2017 2016 Reserve balance, July 1 $ 3,607 $ 5,245 Current period expense 615 646 Payments or credits to customers (2,179 ) (2,278 ) Translation adjustment 19 (6 ) Reserve balance, June 30 $ 2,062 $ 3,607

Note G - Debt (Tables)

Note G - Debt (Tables)	12 Months Ended
	Jun. 30, 2017
Notes Tables
Schedule of Debt [Table Text Block]	2017 2016 Revolving loan agreement $ 6,285 $ 8,478 Other 38 23 Subtotal 6,323 8,501 Less: current maturities - - Total long-term debt $ 6,323 $ 8,501
Schedule of Maturities of Long-term Debt [Table Text Block]	Fiscal Year 2018 $ 2 2019 3 2020 3 2021 6,288 2022 3 Thereafter 24 $ 6,323

Note H - Lease Commitments (Tab

Note H - Lease Commitments (Tables)	12 Months Ended
	Jun. 30, 2017
Notes Tables
Lessee, Operating Lease, Disclosure [Table Text Block]	Fiscal Year 2018 $ 2,435 2019 859 2020 597 2021 515 2022 484 Thereafter 238 $ 5,128

Note I - Shareholders' Equity (

Note I - Shareholders' Equity (Tables)	12 Months Ended
	Jun. 30, 2017
Notes Tables
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	2017 2016 Translation adjustments $ 6,130 $ 5,158 Benefit plan adjustments, net of income taxes of $21,601 and $27,750 respectively (38,801 ) (49,301 ) Accumulated other comprehensive loss $ (32,671 ) $ (44,143 )
Reconciliation For The Changes In Accumulated Other Comprehensive Income Loss Net Of Tax By Component [Table Text Block]	Translation Benefit Plan Adjustment Adjustment Balance at June 30, 2014 $ 20,779 $ (36,722 ) Other comprehensive loss before reclassifications (14,039 ) (7,518 ) Amounts reclassified from accumulated other comprehensive income - 2,019 Net current period other comprehensive loss (14,039 ) (5,499 ) Balance at June 30, 2015 $ 6,740 $ (42,221 ) Translation Benefit Plan Adjustment Adjustment Balance at June 30, 2015 $ 6,740 $ (42,221 ) Other comprehensive loss before reclassifications (1,582 ) (10,101 ) Amounts reclassified from accumulated other comprehensive income - 3,021 Net current period other comprehensive loss (1,582 ) (7,080 ) Balance at June 30, 2016 $ 5,158 $ (49,301 ) Translation Benefit Plan Adjustment Adjustment Balance at June 30, 2016 $ 5,158 $ (49,301 ) Other comprehensive income before reclassifications 972 8,025 Amounts reclassified from accumulated other comprehensive income - 2,475 Net current period other comprehensive income 972 10,500 Balance at June 30, 2017 $ 6,130 $ (38,801 )
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]	Amount Reclassified Amortization of benefit plan items Actuarial losses $ (3,074 ) Transition asset and prior service benefit (36 ) Total before tax benefit (3,110 ) Tax benefit 1,091 Total reclassification net of tax $ (2,019 ) Amount Reclassified Amortization of benefit plan items Actuarial losses $ (4,355 ) Transition asset and prior service benefit (92 ) Total before tax benefit (4,447 ) Tax benefit 1,426 Total reclassification net of tax $ (3,021 ) Amount Reclassified Amortization of benefit plan items Actuarial losses $ (3,821 ) Transition asset and prior service benefit (101 ) Total before tax benefit (3,922 ) Tax benefit 1,447 Total reclassification net of tax $ (2,475 )

Note J - Business Segments an34

Note J - Business Segments and Foreign Operations (Tables)	12 Months Ended
	Jun. 30, 2017
Notes Tables
Revenue from External Customers by Products and Services [Table Text Block]	2017 2016 2015 Industrial $ 28,769 $ 32,437 $ 42,078 Land based transmissions 42,386 29,028 76,450 Marine and propulsion systems 91,629 98,925 141,137 Other 5,398 5,892 6,125 Total $ 168,182 $ 166,282 $ 265,790
Schedule of Segment Reporting Information, by Segment [Table Text Block]	2017 Manufacturing Distribution Total Net Sales $ 146,491 $ 67,804 $ 214,295 Intra-segment sales 13,146 7,296 20,442 Inter-segment sales 22,921 2,750 25,671 Interest income 42 32 74 Interest expense 301 - 301 Income taxes 1,684 784 2,468 Depreciation and amortization 6,125 425 6,550 Net earnings attributable to Twin Disc 629 2,438 3,067 Assets 222,136 50,418 272,554 Expenditures for segment assets 2,674 290 2,964 2016 Manufacturing Distribution Total Net Sales $ 140,965 $ 74,199 $ 215,164 Intra-segment sales 11,476 7,854 19,330 Inter-segment sales 26,883 2,669 29,552 Interest income 117 25 142 Interest expense 397 1 398 Income taxes (2,554 ) 108 (2,446 ) Depreciation and amortization 7,536 471 8,007 Net (loss) earnings attributable to Twin Disc (12,694 ) 762 (11,932 ) Assets 221,590 52,719 274,309 Expenditures for segment assets 3,850 188 4,038 2015 Manufacturing Distribution Total Net Sales $ 232,545 $ 120,594 $ 353,139 Intra-segment sales 19,541 9,584 29,125 Inter-segment sales 54,947 3,277 58,224 Interest income 171 33 204 Interest expense 946 - 946 Income taxes 7,125 1,646 8,771 Depreciation and amortization 8,103 502 8,605 Net earnings attributable to Twin Disc 12,861 6,350 19,211 Assets 246,374 62,134 308,508 Expenditures for segment assets 7,335 1,271 8,606
Reconciliation of Revenue and Operating Profit (Loss) from Segments to Consolidated [Table Text Block]	2017 2016 2015 Net sales: Total net sales from reportable segments $ 214,295 $ 215,164 $ 353,139 Elimination of inter-company sales (46,113 ) (48,882 ) (87,349 ) Total consolidated net sales $ 168,182 $ 166,282 $ 265,790 Net (loss) earnings attributable to Twin Disc: Total net earnings (loss) from reportable segments $ 3,067 $ (11,932 ) $ 19,211 Other adjustments and corporate expenses (9,361 ) (1,172 ) (8,038 ) Total consolidated net (loss) earnings attributable to Twin Disc $ (6,294 ) $ (13,104 ) $ 11,173
Reconciliation of Other Significant Reconciling Items from Segments to Consolidated [Table Text Block]	Segment Consolidated Totals Adjustments Totals 2017 Interest income $ 74 $ (2 ) $ 72 Interest expense 301 2 303 Income taxes 2,468 (5,882 ) (3,414 ) Depreciation and amortization 6,550 467 7,017 Assets 272,554 (61,656 ) 210,898 Expenditures for segment assets 2,964 169 3,133 2016 Interest income $ 142 $ 5 $ 147 Interest expense 398 28 426 Income taxes (2,446 ) (9,836 ) (12,282 ) Depreciation and amortization 8,007 840 8,847 Assets 274,309 (60,387 ) 213,922 Expenditures for segment assets 4,038 176 4,214 2015 Interest income $ 204 $ (80 ) $ 124 Interest expense 946 (340 ) 606 Income taxes 8,771 (4,256 ) 4,515 Depreciation and amortization 8,605 1,556 10,161 Assets 308,508 (58,646 ) 249,862 Expenditures for segment assets 8,606 443 9,049
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block]	2017 2016 2015 Net sales United States $ 82,730 $ 77,147 $ 131,198 Italy 12,176 13,294 14,457 Australia 10,913 9,943 10,454 Canada 9,962 8,699 13,661 China 7,936 9,019 19,712 Other countries 44,465 48,180 76,308 Total $ 168,182 $ 166,282 $ 265,790 Long-lived assets 2017 2016 United States $ 34,310 $ 37,319 Belgium 7,399 7,154 Switzerland 7,324 7,145 Italy 1,829 1,638 Other countries 1,810 2,477 Total $ 52,672 $ 55,733

Note K - Stock-based Compensa35

Note K - Stock-based Compensation (Tables)	12 Months Ended
	Jun. 30, 2017
Notes Tables
Schedule Of Share-based Compensation Shares Available For Future Options [Table Text Block]	2017 2016 2010 Employee Incentive Plan 97,609 333,054 2010 Directors' Plan 100,426 144,656
Share-based Compensation, Stock Options, Activity [Table Text Block]	Weighted Average Weighted Remaining Aggregate Average Contractual Intrinsic 2017 Price Life (years) Value Non-qualified stock options: Options outstanding at beginning of year 16,800 $ 16.80 Granted - - Canceled/expired (3,600 ) 18.01 Exercised - - Options outstanding at June 30 13,200 $ 16.47 2.09 $ 35.5

Note M - Pension and Other Po36

Note M - Pension and Other Postretirement Benefit Plans (Tables)	12 Months Ended
	Jun. 30, 2017
Notes Tables
Schedule of Net Funded Status [Table Text Block]	Other Pension Postretirement Benefits Benefits 2017 2016 2017 2016 Change in benefit obligation: Benefit obligation, beginning of year $ 129,056 $ 127,733 $ 15,933 $ 16,372 Service cost 1,009 770 20 28 Interest cost 4,213 4,968 420 604 Actuarial (gain) loss (6,980 ) 7,043 (3,380 ) 496 Contributions by plan participants 139 143 472 519 Benefits paid (9,267 ) (11,601 ) (1,891 ) (2,086 ) Benefit obligation, end of year $ 118,170 $ 129,056 $ 11,574 $ 15,933 Change in plan assets: Fair value of assets, beginning of year $ 94,164 $ 104,681 $ - $ - Actual return on plan assets 7,967 (1,442 ) - - Employer contribution 1,369 2,383 1,419 1,567 Contributions by plan participants 139 143 472 519 Benefits paid (9,267 ) (11,601 ) (1,891 ) (2,086 ) Fair value of assets, end of year $ 94,372 $ 94,164 $ - $ - Funded status $ (23,798 ) $ (34,892 ) $ (11,574 ) $ (15,933 ) Amounts recognized in the balance sheet consist of: Other assets - noncurrent $ 694 $ 654 $ - $ - Accrued liabilities - current (706 ) (805 ) (1,654 ) (1,969 ) Accrued retirement benefits - noncurrent (23,786 ) (34,741 ) (9,920 ) (13,964 ) Net amount recognized $ (23,798 ) $ (34,892 ) $ (11,574 ) $ (15,933 ) Amounts recognized in accumulated other comprehensive loss consist of (net of tax): Net transition obligation $ 790 $ 285 $ - $ - Actuarial net loss 37,140 45,850 871 3,166 Net amount recognized $ 37,930 $ 46,135 $ 871 $ 3,166
Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year [Table Text Block]	Other Pension Postretirement Benefits Benefits Net transition obligation $ 100 $ - Actuarial net loss 3,037 12 Net amount to be recognized $ 3,137 $ 12
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block]	June 30 2017 2016 Projected and accumulated benefit obligation $ 117,250 $ 127,528 Fair value of plan assets 92,758 91,982
Schedule of Net Benefit Costs [Table Text Block]	Pension Benefits 2017 2016 2015 Service cost $ 1,009 $ 770 $ 465 Interest cost 4,213 4,968 4,862 Expected return on plan assets (5,902 ) (6,874 ) (7,272 ) Amortization of transition obligation 35 33 36 Amortization of prior service cost 66 59 - Amortization of actuarial net loss 3,591 3,627 2,436 Net periodic benefit cost $ 3,012 $ 2,583 $ 527 Other Postretirement Benefits 2017 2016 2015 Service cost $ 21 $ 28 $ 30 Interest cost 420 604 579 Amortization of actuarial net loss 230 728 638 Net periodic benefit cost $ 671 $ 1,360 $ 1,247
Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]	Other Postretirement Pension Benefits Net gain $ (9,057 ) $ (3,380 ) Prior service cost (10 ) - Amortization of transition asset (35 ) - Amortization of prior service cost (66 ) - Amortization of net (loss) gain (3,613 ) (230 ) Total recognized in other comprehensive income (12,781 ) (3,610 ) Net periodic benefit cost 3,012 671 Total recognized in net periodic benefit cost and other comprehensive income $ (9,769 ) $ (2,939 ) Other Postretirement Pension Benefits Net loss $ 15,514 $ 496 Prior service cost 58 - Amortization of transition asset (33 ) - Amortization of prior service cost (59 ) - Amortization of net (loss) gain (3,627 ) (728 ) Total recognized in other comprehensive income 11,853 (232 ) Net periodic benefit cost 2,583 1,360 Total recognized in net periodic benefit cost and other comprehensive income $ 14,436 $ 1,128 Other Postretirement Pension Benefits Net loss $ 9,406 $ 882 Amortization of transition asset (36 ) - Amortization of net (loss) gain (2,436 ) (638 ) Total recognized in other comprehensive income 6,934 244 Net periodic benefit cost 527 1,247 Total recognized in net periodic benefit cost and other comprehensive income $ 7,461 $ 1,491
Schedule of Assumptions Used [Table Text Block]	Other Pension Benefits Postretirement Benefits Weighted average assumptions used to determine benefit obligations at June 30 2017 2016 2017 2016 Discount rate 3.51% 3.35% 3.41% 3.27% Expected return on plan assets 6.68% 6.57% Other Pension Benefits Postretirement Benefits Weighted average assumptions used to determine net periodic benefit costs for years ended June 30 2017 2016 2015 2017 2016 2015 Discount rate 3.35% 4.05% 4.06% 3.27% 3.93% 3.76% Expected return on plan assets 6.57% 7.11% 7.39%
Schedule of Plan Weighted Average Assets Allocations [Table Text Block]	Target June 30 Asset Category Allocation 2017 2016 Equity securities 65% 65% 63% Debt securities 25% 25% 25% Real estate 10% 10% 12% 100% 100% 100%
Schedule of Allocation of Plan Assets [Table Text Block]	Total Level I Level II Level III Cash and cash equivalents $ 1,203 $ 1,203 $ - $ - Equity securities: Company common stock (a) 1,585 1,585 - - Common stock (a) 23,263 23,263 - - Mutual funds (b) 11,259 11,259 - - Annuity contracts (c) 7,779 - - 7,779 Total $ 45,089 $ 37,310 $ - $ 7,779 Investments Measured at Net Asset Value (d) 49,283 Total $ 94,372 Total Level I Level II Level III Cash and cash equivalents $ 1,143 $ 1,143 $ - $ - Equity securities: Company common stock (a) 1,055 1,055 - - Common stock (a) 22,440 22,440 - - Mutual funds (b) 11,432 11,432 - - Annuity contracts (c) 9,031 - - 9,031 Total $ 45,101 $ 36,070 $ - $ 9,031 Investments Measured at Net Asset Value (d) 49,063 Total $ 94,164 2017 2016 Fixed income funds $ 20,819 $ 20,842 International equity securities 4,760 3,793 Real estate 8,566 10,537 Hedged equity mutual funds 15,138 13,891 Total $ 49,283 $ 49,063
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets [Table Text Block]	2017 2016 Beginning balance $ 9,031 $ 9,508 Actual return on plan assets: Relating to assets still held at reporting date 659 38 Purchases, sales and settlements, net (1,911 ) (619 ) Transfers in and/or out of Level III - 104 Ending balance $ 7,779 $ 9,031
Schedule of Expected Benefit Payments [Table Text Block]	Other Pension Postretirement Benefits Benefits 2018 $ 10,890 $ 1,682 2019 9,399 1,348 2020 9,161 1,238 2021 8,681 1,144 2022 8,130 1,044 Years 2023 - 2027 35,760 3,907

Note N - Income Taxes (Tables)

Note N - Income Taxes (Tables)	12 Months Ended
	Jun. 30, 2017
Notes Tables
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]	2017 2016 2015 United States $ (13,048 ) $ (29,293 ) $ 5,614 Foreign 3,519 3,998 10,286 $ (9,529 ) $ (25,295 ) $ 15,900
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	2017 2016 2015 Currently payable: Federal $ (191 ) $ (1,683 ) $ 1,607 State 251 136 518 Foreign 771 1,468 2,832 831 (79 ) 4,957 Deferred: Federal (3,906 ) (10,978 ) 408 State (706 ) (787 ) 5 Foreign 367 (438 ) (855 ) (4,245 ) (12,203 ) (442 ) $ (3,414 ) $ (12,282 ) $ 4,515
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	2017 2016 Deferred tax assets: Retirement plans and employee benefits $ 13,755 $ 19,106 Foreign tax credit carryforwards 7,620 8,887 Federal tax credits 1,131 191 State net operating loss and other state credit carryforwards 1,213 768 Federal net operating loss 2,299 - Inventory 1,992 1,775 Reserves 833 1,544 Foreign NOL carryforwards 3,606 3,176 Accruals 460 522 Other assets 665 678 33,574 36,647 Deferred tax liabilities: Property, plant and equipment 5,488 6,329 Intangibles 971 2,011 Other liabilities 125 140 6,584 8,480 Valuation Allowance (3,803 ) (3,123 ) Total net deferred tax assets $ 23,187 $ 25,044
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	2017 2016 2015 U.S. federal income tax at 34% $ (3,240 ) $ (8,601 ) $ 5,491 Increases (reductions) in tax resulting from: Foreign tax items (179 ) (2,525 ) 362 State taxes (499 ) (374 ) 32 Valuation allowance (47 ) (1,288 ) (1,121 ) Change in prior year estimate 899 473 157 Research and development tax credits (230 ) (348 ) (337 ) Section 199 deduction - - (96 ) Unrecognized tax benefits 65 (21 ) 5 Goodwill impairment - 420 - Other, net (183 ) (18 ) 22 $ (3,414 ) $ (12,282 ) $ 4,515
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]	June 30, 2017 June 30, 2016 Unrecognized tax benefits, beginning of year $ 790 $ 810 Additions based on tax positions related to the prior year - 12 Additions based on tax positions related to the current year 55 172 Reductions based on tax positions related to the prior year (13 ) (4 ) Subtractions due to statutes closing (5 ) (179 ) Settlements with Taxing Authorities - (21 ) Unrecognized tax benefits, end of year $ 827 $ 790

Note P - Restructuring of Ope38

Note P - Restructuring of Operations (Tables)	12 Months Ended
	Jun. 30, 2017
Notes Tables
Restructuring and Related Costs [Table Text Block]	Accrued restructuring liability, June 30, 2015 $ 3,776 Additions 921 Payments and adjustments (3,896 ) Accrued restructuring liability, June 30, 2016 801 Additions 1,791 Payments and adjustments (2,500 ) Accrued restructuring liability, June 30, 2017 $ 92

Schedule II - Valuation and Q39

Schedule II - Valuation and Qualifying Accounts (Tables)	12 Months Ended
	Jun. 30, 2017
Notes Tables
Valuation Allowances and Reserves [Table Text Block]	Balance at Charged to Balance at Beginning Costs and End of Description of Period Expenses Deductions (1) Period 2017: Allowance for losses on accounts receivable $ 1,824 $ 127 $ 432 $ 1,519 Deferred tax valuation allowance $ 3,123 $ 826 $ 146 $ 3,803 2016: Allowance for losses on accounts receivable $ 2,183 $ 237 $ 596 $ 1,824 Deferred tax valuation allowance $ 3,577 $ 257 $ 711 $ 3,123 2015: Allowance for losses on accounts receivable $ 3,637 $ 304 $ 1,758 $ 2,183 Deferred tax valuation allowance $ 5,593 $ 805 $ 2,821 $ 3,577

Note A - Significant Accounti40

Note A - Significant Accounting Policies (Details Textual) $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2015USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)
Quantifying Misstatement In Current Year Financial Statement Increase Decrease Amount Net Earnings				$ (175)
Foreign Currency Transaction Gain (Loss), before Tax		$ (318)	$ (320)	$ 491
Allowance for Doubtful Accounts Receivable		1,519	$ 1,824
Quantifying Misstatement In Current Year Financial Statement Increase (Decrease) Amount Comprehensive Income (Loss)	$ (470)
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)		$ 0
Understatement Of Tax Expenses [Member]
Quantifying Misstatement in Current Year Financial Statements, Amount					$ 175
Understatement Of Accrued Retirement Benefits [Member]
Quantifying Misstatement in Current Year Financial Statements, Amount	$ 470
Building and Building Improvements [Member] | Minimum [Member]
Property, Plant and Equipment, Useful Life		10 years
Building and Building Improvements [Member] | Maximum [Member]
Property, Plant and Equipment, Useful Life		40 years
Machinery and Equipment [Member] | Minimum [Member]
Property, Plant and Equipment, Useful Life		5 years
Machinery and Equipment [Member] | Maximum [Member]
Property, Plant and Equipment, Useful Life		15 years
Foreign Exchange Forward [Member]
Derivative, Notional Amount		$ 1,050
Derivative, Weighted Average Maturity		53 days
Derivative Liability, Fair Value, Gross Liability		$ 29
Derivative, Number of Instruments Held		3	0

Note B - Inventories (Details T

Note B - Inventories (Details Textual) - USD ($) $ in Thousands	Jun. 30, 2017	Jun. 30, 2016
Percentage of LIFO Inventory	36.00%	33.00%
Excess of Replacement or Current Costs over Stated LIFO Value	$ 26,422	$ 26,451
Inventory Valuation Reserves	$ 9,068	$ 8,823

Note B - Inventories - Inventor

Note B - Inventories - Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Jun. 30, 2016
Finished parts	$ 45,829	$ 45,622
Work in process	8,358	8,020
Raw materials	12,006	12,927
Total inventories	$ 66,193	$ 66,569

Note C - Property, Plant and 43

Note C - Property, Plant and Equipment (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Depreciation	$ 6,849	$ 8,682	$ 9,922

Note C - Property, Plant and 44

Note C - Property, Plant and Equipmnet - Property, Plant and Equipmnet (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Jun. 30, 2016
Land	$ 6,556	$ 6,497
Buildings	46,479	45,808
Machinery and equipment	134,039	132,969
Property, plant and Equipment, Gross	187,074	185,274
Less: accumulated depreciation	(138,862)	(133,609)
Property, plant and Equipment, Net	$ 48,212	$ 51,665

Note D - Goodwill and Other I45

Note D - Goodwill and Other Intangibles (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Goodwill	$ 2,585	$ 5,120	$ 12,789
Goodwill, Impairment Loss	$ 2,550	7,602
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	13 years
Amortization of Intangible Assets	$ 168	165	239
Indefinite-Lived Intangible Assets (Excluding Goodwill)	205	201
European Industrial [Member]
Goodwill	$ 2,585
Goodwill [Member]
Fair Value Inputs, Discount Rate	13.10%
Industrial [Member] | UNITED STATES
Goodwill		$ 2,550	8,941
Fair Value Inputs, Discount Rate		13.10%
Goodwill, Impairment Loss	2,550	$ 6,391
Industrial [Member] | Europe [Member]
Goodwill	$ 2,585	$ 2,570	2,542
Reporting Unit, Percentage of Fair Value in Excess of Carrying Amount	57.00%	31.00%
Goodwill, Impairment Loss	$ 0	$ 0
Marine and Propulsion Systems [Member] | Europe [Member]
Goodwill			$ 1,281
Goodwill, Impairment Loss		$ 1,211

Note D - Goodwill and Other I46

Note D - Goodwill and Other Intangibles - Goodwill Rollforward (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Balance, Gross carrying Amount	$ 16,392	$ 16,459
Balance	(13,822)	(11,272)	$ (3,670)
Balance, Net Book Value	5,120	12,789
Sale of business, Gross carrying Amount		(25)
Impairment	(2,550)	(7,602)
Translation adjustment	15	(42)
Balance, Net Book Value	2,585	5,120
Balance, Gross carrying Amount	16,407	16,392
Industrial [Member] | UNITED STATES
Balance, Net Book Value	2,550	8,941
Sale of business, Gross carrying Amount
Impairment	(2,550)	(6,391)
Translation adjustment
Balance, Net Book Value		2,550
Industrial [Member] | Europe [Member]
Balance, Net Book Value	2,570	2,542
Sale of business, Gross carrying Amount
Impairment	0	0
Translation adjustment	15	28
Balance, Net Book Value	2,585	2,570
Marine and Propulsion Systems [Member] | Europe [Member]
Balance, Net Book Value		1,281
Sale of business, Gross carrying Amount
Impairment		(1,211)
Translation adjustment		(70)
Balance, Net Book Value
Other Product or Service [Member]
Balance, Net Book Value		25
Sale of business, Gross carrying Amount		(25)
Impairment
Translation adjustment
Balance, Net Book Value

Note D - Goodwill and Other I47

Note D - Goodwill and Other Intangibles - Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Balance, Gross Carrying Amount	$ 13,426	$ 13,272
Balance, Accumulated Amortization/Impairment	(11,632)	(11,463)	$ (11,299)
Balance, Net Book Value	1,963	1,973
Addition, Gross Carrying Amount		138
Addition, Net Book Value		138
Amortization	(168)	(165)	(239)
Translation adjustment, Gross Carrying Amount	10	16
Translation adjustment, Accumulated Amortization/Impairment	(1)
Translation adjustment, Net Book Value	9	16
Balance, Net Book Value	1,804	1,963	1,973
Balance, Gross Carrying Amount	13,436	13,426	13,272
Licensing Agreements [Member]
Balance, Net Book Value	450	510
Addition, Net Book Value
Amortization	(60)	(60)
Translation adjustment, Net Book Value
Balance, Net Book Value	390	450	510
Trade Names [Member]
Balance, Net Book Value	1,393	1,459
Addition, Net Book Value
Amortization	(80)	(81)
Translation adjustment, Net Book Value	6	15
Balance, Net Book Value	1,319	1,393	1,459
Other Intangible Assets [Member]
Balance, Net Book Value	120	4
Addition, Net Book Value		138
Amortization	(28)	(23)
Translation adjustment, Net Book Value	3	1
Balance, Net Book Value	$ 95	$ 120	$ 4

Note D - Goodwill and Other I48

Note D - Goodwill and Other Intangibles - Estimated Intangibles (Details) $ in Thousands	Jun. 30, 2017USD ($)
2,018	$ 180
2,019	177
2,020	156
2,021	150
2,022	143
Thereafter	$ 997

Note E - Accrued Liabilities -

Note E - Accrued Liabilities - Accrued Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Jun. 30, 2016
Salaries and wages	$ 6,714	$ 4,851
Retirement benefits	3,027	3,550
Customer advances/deferred revenue	2,423	2,372
Distributor rebate	2,183	2,538
Warranty	1,708	2,532
Other	7,167	5,572
Total accrued liabilities	$ 23,222	$ 21,415

Note F - Warranty (Details Text

Note F - Warranty (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Product Warranty Accrual, Current	$ 1,708	$ 2,532
Product Warranty Accrual, Noncurrent	$ 354	$ 1,075
Minimum [Member]
Warranty Period	1 year
Maximum [Member]
Warranty Period	2 years

Note F - Warranty - Warranty (D

Note F - Warranty - Warranty (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Reserve balance	$ 3,607	$ 5,245
Current period expense	615	646
Payments or credits to customers	(2,179)	(2,278)
Translation adjustment	19	(6)
Reserve balance	$ 2,062	$ 3,607

Note G - Debt (Details Textual)

Note G - Debt (Details Textual) - USD ($) $ in Thousands	Jun. 30, 2017	Jun. 30, 2016
Line of Credit [Member]
Debt, Weighted Average Interest Rate	4.90%	5.40%
Line of Credit Facility, Maximum Borrowing Capacity	$ 1,472	$ 1,470
Revolving Loan Agreement [Member] | Bank of Montreal [Member]
Line of Credit Facility, Current Borrowing Capacity	28,580
Line of Credit Facility, Remaining Borrowing Capacity	$ 21,365
Line of Credit Facility, Interest Rate at Period End	2.80%

Note G - Debt - Long-term Debt

Note G - Debt - Long-term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Jun. 30, 2016
Revolving loan agreement	$ 6,323	$ 8,501
Long-term debt	6,323	8,501
Less: current maturities
Total long-term debt	6,323	8,501
Revolving Loan [Member]
Revolving loan agreement	6,285	8,478
Long-term debt	6,285	8,478
Other Long-Term Debt [Member]
Revolving loan agreement	38	23
Long-term debt	$ 38	$ 23

Note G - Debt - Schedule of Mat

Note G - Debt - Schedule of Maturities of Long-term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Jun. 30, 2016
2,018	$ 2
2,019	3
2,020	3
2,021	6,288
2,022	3
Thereafter	24
Total	$ 6,323	$ 8,501

Note H - Lease Commitments (Det

Note H - Lease Commitments (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Operating Leases, Rent Expense, Net	$ 2,982	$ 3,240	$ 3,550

Note H - Lease Commitments - Fu

Note H - Lease Commitments - Future Minimum Rental Commitments Under Noncancellable Operating Leases (Details) $ in Thousands	Jun. 30, 2017USD ($)
2,018	$ 2,435
2,019	859
2,020	597
2,021	515
2,022	484
Thereafter	238
Total	$ 5,128

Note I - Shareholders' Equity57

Note I - Shareholders' Equity (Details Textual)	12 Months Ended
	Jun. 30, 2017$ / shares$ / itemshares	Jun. 30, 2016$ / sharesshares	Jun. 30, 2015$ / sharesshares
Multiple of Exercise Price	2
Redemption Price of Right | $ / item	0.01
Preferred Stock, Shares Authorized	200,000	200,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Capital Shares Reserved for Future Issuance	150,000
Common Stock, Shares, Outstanding	11,519,133	11,350,174	11,267,347
Treasury Stock, Shares	1,580,335	1,749,294	1,832,121
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period	0	1,750
Stock Repurchase Program, Number of Shares Authorized to be Repurchased	315,000	315,000	315,000
Common Stock, Dividends, Per Share, Cash Paid | $ / shares	$ 0	$ 0.18	$ 0.36
Number of Preferred Stock Purchase Rights Per Outstanding Share of Common Stock	1
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	0.25
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares	$ 125
Number of Business Days Following Public Announcement to Exercise Right	10 days
Beneficial Ownership of Company's Common Stock	20.00%
Beneficial Ownership of Company's Common Stock for ExistingHolder	30.00%
Treasury Stock, Shares, Acquired	0	0	0
Treasury Stock [Member]
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures	168,959	83,377	49,314

Note I - Shareholders' Equity -

Note I - Shareholders' Equity - Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Jun. 30, 2016
Translation adjustments	$ 6,130	$ 5,158
Benefit plan adjustments, net of income taxes of $21,601 and $27,750 respectively	(38,801)	(49,301)
Accumulated other comprehensive loss	$ (32,671)	$ (44,143)

Note I - Shareholders' Equity59

Note I - Shareholders' Equity - Schedule of Accumulated Other Comprehensive Income (Loss) (Details) (Parentheticals) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Tax effect on benefit plan adjustments	$ 21,601	$ 27,750

Note I - Shareholders' Equity60

Note I - Shareholders' Equity - Accumulated Other Comprehensive Income (Loss), Net of Tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Balance	$ (32,671)	$ (44,143)
Balance	(44,143)
Translation Adjustment [Member]
Balance	6,130	5,158	$ 6,740
Balance	5,158	6,740	20,779
Other comprehensive loss before reclassifications	972	(1,582)	(14,039)
Amounts reclassified from accumulated other comprehensive income
Net current period other comprehensive loss	972	(1,582)	(14,039)
Benefit Plan Adjustment [Member]
Balance	(38,801)	(49,301)	(42,221)
Balance	(49,301)	(42,221)	(36,722)
Other comprehensive loss before reclassifications	8,025	(10,101)	(7,518)
Amounts reclassified from accumulated other comprehensive income	2,475	3,021	2,019
Net current period other comprehensive loss	$ 10,500	$ (7,080)	$ (5,499)

Note I - Shareholders' Equity61

Note I - Shareholders' Equity - Reconciliation for the Reclassifications Out of Accumulated Other Comprehensive Income (Loss), Net of Tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Income tax (benefit) expense	$ (3,414)	$ (12,282)	$ 4,515
Net (loss) earnings	(6,115)	(13,013)	11,385
Benefit Plan Adjustment [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Transition asset and prior service benefit	(101)	(92)	(36)
Total before tax benefit	(3,922)	(4,447)	(3,110)
Income tax (benefit) expense	1,447	1,426	1,091
Net (loss) earnings	(2,475)	(3,021)	(2,019)
Actuarial losses	$ (3,821)	$ (4,355)	$ (3,074)

Note J - Business Segments an62

Note J - Business Segments and Foreign Operations (Details Textual)	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Number of Reportable Segments	2
Customer Concentration Risk [Member] | Sales Revenue, Net [Member]
Number of Customers	1
Concentration Risk, Percentage		12.00%	11.00%
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | Customer 1 [Member]
Concentration Risk, Percentage	11.00%	12.00%

Note J - Business Segments an63

Note J - Business Segments and Foreign Operations - Net Sales by Product Group (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Net Sales	$ 168,182	$ 166,282	$ 265,790
Industrial [Member]
Net Sales	28,769	32,437	42,078
Land Based Transmissions [Member]
Net Sales	42,386	29,028	76,450
Marine and Propulsion Systems [Member]
Net Sales	91,629	98,925	141,137
Other [Member]
Net Sales	$ 5,398	$ 5,892	$ 6,125

Note J - Business Segments an64

Note J - Business Segments and Foreign Operations - Segment Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Interest income	$ 72	$ 147	$ 124
Interest expense	303	426	606
Income taxes	(3,414)	(12,282)	4,515
Depreciation and amortization	7,017	8,847	10,161
Net earnings attributable to Twin Disc	(6,294)	(13,104)	11,173
Assets	210,898	213,922	249,862
Expenditures for segment assets	3,133	4,214	9,049
Net Sales	168,182	166,282	265,790
Intra-segment sales	20,442	19,330	29,125
Inter-segment sales	25,671	29,552	58,224
Manufacturing Segment [Member]
Intra-segment sales	13,146	11,476	19,541
Inter-segment sales	22,921	26,883	54,947
Distribution Segment [Member]
Intra-segment sales	7,296	7,854	9,584
Inter-segment sales	2,750	2,669	3,277
Operating Segments [Member]
Interest income	74	142	204
Interest expense	301	398	946
Income taxes	2,468	(2,446)	8,771
Depreciation and amortization	6,550	8,007	8,605
Net earnings attributable to Twin Disc	3,067	(11,932)	19,211
Assets	272,554	274,309	308,508
Expenditures for segment assets	2,964	4,038	8,606
Net Sales	214,295	215,164	353,139
Operating Segments [Member] | Manufacturing Segment [Member]
Interest income	42	117	171
Interest expense	301	397	946
Income taxes	1,684	(2,554)	7,125
Depreciation and amortization	6,125	7,536	8,103
Net earnings attributable to Twin Disc	629	(12,694)	12,861
Assets	222,136	221,590	246,374
Expenditures for segment assets	2,674	3,850	7,335
Net Sales	146,491	140,965	232,545
Operating Segments [Member] | Distribution Segment [Member]
Interest income	32	25	33
Interest expense		1
Income taxes	784	108	1,646
Depreciation and amortization	425	471	502
Net earnings attributable to Twin Disc	2,438	762	6,350
Assets	50,418	52,719	62,134
Expenditures for segment assets	290	188	1,271
Net Sales	$ 67,804	$ 74,199	$ 120,594

Note J - Business Segments an65

Note J - Business Segments and Foreign Operations - Reconciliation of Reportable Segment Net Sales and Net Earnings to Consolidated Totals (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Net Sales	$ 168,182	$ 166,282	$ 265,790
Net earnings attributable to Twin Disc	(6,294)	(13,104)	11,173
Operating Segments [Member]
Net Sales	214,295	215,164	353,139
Net earnings attributable to Twin Disc	3,067	(11,932)	19,211
Intersegment Eliminations [Member]
Net Sales	(46,113)	(48,882)	(87,349)
Corporate, Non-Segment [Member]
Net earnings attributable to Twin Disc	$ (9,361)	$ (1,172)	$ (8,038)

Note J - Business Segments an66

Note J - Business Segments and Foreign Operations - Reconciliation of Reportable Segments Other Significant Reconciling Items to Consolidated Totals (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Depreciation and amortization	$ 7,017	$ 8,847	$ 10,161
Assets	210,898	213,922	249,862
Expenditures for segment assets	3,133	4,214	9,049
Interest income	72	147	124
Interest expense	303	426	606
Income taxes	(3,414)	(12,282)	4,515
Operating Segments [Member]
Depreciation and amortization	6,550	8,007	8,605
Assets	272,554	274,309	308,508
Expenditures for segment assets	2,964	4,038	8,606
Interest income	74	142	204
Interest expense	301	398	946
Income taxes	2,468	(2,446)	8,771
Segment Reconciling Items [Member]
Depreciation and amortization	467	840	1,556
Assets	(61,656)	(60,387)	(58,646)
Expenditures for segment assets	169	176	443
Interest income	(2)	5	(80)
Interest expense	2	28	(340)
Income taxes	$ (5,882)	$ (9,836)	$ (4,256)

Note J - Business Segments an67

Note J - Business Segments and Foreign Operations - Geographic Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Net Sales	$ 168,182	$ 166,282	$ 265,790
Long-lived Assets	52,672	55,733
Reportable Geographical Components [Member] | UNITED STATES
Net Sales	82,730	77,147	131,198
Long-lived Assets	34,310	37,319
Reportable Geographical Components [Member] | ITALY
Net Sales	12,176	13,294	14,457
Long-lived Assets	1,829	1,638
Reportable Geographical Components [Member] | BELGIUM
Long-lived Assets	7,399	7,154
Reportable Geographical Components [Member] | AUSTRALIA
Net Sales	10,913	9,943	10,454
Reportable Geographical Components [Member] | SWITZERLAND
Long-lived Assets	7,324	7,145
Reportable Geographical Components [Member] | CANADA
Net Sales	9,962	8,699	13,661
Reportable Geographical Components [Member] | CHINA
Net Sales	7,936	9,019	19,712
Reportable Geographical Components [Member] | Other Countries [Member]
Net Sales	44,465	48,180	$ 76,308
Long-lived Assets	$ 1,810	$ 2,477

Note K - Stock-based Compensa68

Note K - Stock-based Compensation (Details Textual) - USD ($)	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period	0	1,750
Performance Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	170,064	72,217	25,949
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	164,397	90,699
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	109,598	60,466	16,261
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value	$ 12.32
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options	$ 1,981,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value	0	$ 0	$ 0
Allocated Share-based Compensation Expense	59,000	54,000	$ 0
Performance Stock Unit Awards [Member]
Deferred Compensation Share-based Arrangements, Liability, Current and Noncurrent	$ 0	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	0	11,351	29,855
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	0	0	15,861
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value	$ 0	$ 0	$ 0
Allocated Share-based Compensation Expense	$ 0	$ 0	$ 0
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period	0	1,750	46,240
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	269,584	142,971	94,183
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 1,569,000
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	181,828	95,738	59,494
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value	$ 587,000	$ 681,000	$ 993,000
Allocated Share-based Compensation Expense	$ 1,555,000	$ 1,241,000	696,000
Restricted Stock [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	1 year
Restricted Stock [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Non-qualified Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	13,200	16,800
Non-qualified Stock Options [Member] | Exercise Price Range ($10.01 - $27.55) [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit	$ 10.01
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit	$ 27.55
Stock Options [Member]
Percentage of Options Vested on Adoption of Statement	100.00%
Allocated Share-based Compensation Expense	$ 0	$ 0	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value	$ 0	$ 4,000	$ 55,000
Stock Incentive Plan for Non-employee Directors 2010 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	250,000
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	10 years
Long-term Incentive Compensation Plan 2010 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	650,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	0	0
Long-term Incentive Compensation Plan 2010 [Member] | Incentive Stock Options [Member]
Percentage of Combined Voting Power of Stock Owned by Optionee	10.00%
Percentage of Grant Date Fair Market Value Specified as Price of Incentive Stock Options Based on Condition, Minimum	110.00%
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	5 years
Percentage of Stock Owned by Shareholder to Which No Options Were Granted	10.00%
Stock Incentive Plan for Non-employee Directors 2004 [Member] | Non-qualified Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	13,200
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures	0	0	0

Note K - Stock-based Compensa69

Note K - Stock-based Compensation - Shares Available for Future Options (Details) - Stock Options [Member] - shares	Jun. 30, 2017	Jun. 30, 2016
Long-term Incentive Compensation Plan 2010 [Member]
Shares Available for Grant (in shares)	97,609	333,054
Stock Incentive Plan for Non-employee Directors 2010 [Member]
Shares Available for Grant (in shares)	100,426	144,656

Note K - Stock-based Compensa70

Note K - Stock-based Compensation - Stock Option Transactions (Details) - Non-qualified Stock Options [Member] - USD ($)	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Options outstanding (in shares)	16,800
Options outstanding, weighted average price (in dollars per share)	$ 16.80
Options outstanding, weighted average price (in dollars per share)	$ 16.47
Options outstanding, weighted average remaining contractual life (Year)	2 years 32 days
Options outstanding, aggregate intrinsic value	$ 35,500
Options Granted (in shares)
Options Canceled/expired (in shares)	(3,600)
Canceled/expired, weighted average price (in dollars per share)	$ 18.01
Options Exercised (in shares)
Exercised, weighted average price (in dollars per share)
Options outstanding (in shares)	13,200

Note L - Engineering and Deve71

Note L - Engineering and Development Costs (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Research and Development Expense	$ 1,547	$ 1,805	$ 2,288
Engineering and Development Costs	$ 8,888	$ 9,481	$ 11,091

Note M - Pension and Other Po72

Note M - Pension and Other Postretirement Benefit Plans (Details Textual) - USD ($)	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Defined Benefit Plan, Cost of Premium for Health Coverage Plan, Percentage	100.00%
Defined Benefit Plan, Accumulated Benefit Obligation	$ 118,170,000	$ 129,056,000
Defined Benefit Plan, Weighted Average Healthcare Cost, Trend Rate	7.25%
Defined Benefit Plan, Ultimate Health Care Cost Trend Rate	5.00%
Defined Benefit Plan, Percentage of Increase in Assumed HealthCare Cost Trend Rate	1.00%
Defined Benefit Plan, Effect of One Percentage Point Increase on Accumulated Postretirement Benefit Obligation	$ 250,000
Defined Benefit Plan, Effect of One Percentage Point Increase on Service and Interest Cost Components	$ 10,000
Defined Benefit Plan, Percentage of Decrease in Assumed Healthcare Cost Trend Rate	1.00%
Defined Benefit Plan, Effect of One Percentage Point Decrease on Accumulated Postretirement Benefit Obligation	$ 221,000
Defined Benefit Plan, Effect of One Percentage Point Decrease on Service and Interest Cost Components	$ 9,000
Defined Benefit Plan, Actual Plan Asset Allocations	100.00%	100.00%
Defined Benefit Plan, Expected Long-term Return on Plan Assets	7.00%
Defined Contribution Plan, Cost	$ 1,658,000	$ 2,058,000	$ 2,526,000
Pension Plan [Member]
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year	2,265,000
Common Stock Held by U.S Pension Plans [Member]
Defined Benefit Plan, Amount of Employer and Related Party Securities Included in Plan Assets	$ 1,585,100	$ 1,054,800
Defined Benefit Plan, Actual Plan Asset Allocations	1.70%	1.10%
Defined Benefit Plan, Number of Shares of Equity Securities Issued by Employer and Related Parties Included in Plan Assets	98,211	98,211

Note M - Pension and Other Po73

Note M - Pension and Other Postretirement Benefit Plans - Net Funded Status of Pension and Postretirement Plans (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Amounts recognized in accumulated other comprehensive loss consist of (net of tax):
Net amount recognized	$ 38,801	$ 49,301
Pension Plan [Member]
Benefit obligation, beginning of year	129,056	127,733
Service cost	1,009	770	$ 465
Interest cost	4,213	4,968	4,862
Actuarial losses	(6,980)	7,043
Benefit obligation, end of year	118,170	129,056	127,733
Fair value of assets, Balance	94,164	104,681
Actual return on plan assets	7,967	(1,442)
Employer contribution	1,369	2,383
Contributions by plan participants	139	143
Benefits paid	(9,267)	(11,601)
Fair value of assets, Balance	94,372	94,164	104,681
Funded status	(23,798)	(34,892)
Amounts recognized in the balance sheet consist of:
Other assets - noncurrent	694	654
Accrued liabilities - current	(706)	(805)
Accrued retirement benefits - noncurrent	(23,786)	(34,741)
Net amount recognized	(23,798)	(34,892)
Amounts recognized in accumulated other comprehensive loss consist of (net of tax):
Net transition obligation	790	285
Actuarial net loss	37,140	45,850
Net amount recognized	37,930	46,135
Other Postretirement Benefits Plan [Member]
Benefit obligation, beginning of year	15,933	16,372
Service cost	21	28	30
Interest cost	420	604	579
Actuarial losses	(3,380)	496
Benefit obligation, end of year	11,574	15,933	16,372
Fair value of assets, Balance
Actual return on plan assets
Employer contribution	1,419	1,567
Contributions by plan participants	472	519
Benefits paid	(1,891)	(2,086)
Fair value of assets, Balance
Funded status	(11,574)	(15,933)
Amounts recognized in the balance sheet consist of:
Other assets - noncurrent
Accrued liabilities - current	(1,654)	(1,969)
Accrued retirement benefits - noncurrent	(9,920)	(13,964)
Net amount recognized	(11,574)	(15,933)
Amounts recognized in accumulated other comprehensive loss consist of (net of tax):
Net transition obligation
Actuarial net loss	871	3,166
Net amount recognized	$ 871	$ 3,166

Note M - Pension and Other Po74

Note M - Pension and Other Postretirement Benefit Plans - Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized Over Next Fiscal Year (Details) $ in Thousands	Jun. 30, 2017USD ($)
Pension Plan [Member]
Net transition obligation	$ 100
Actuarial net loss	3,037
Net amount to be recognized	3,137
Other Postretirement Benefits Plan [Member]
Net transition obligation
Actuarial net loss	12
Net amount to be recognized	$ 12

Note M - Pension and Other Po75

Note M - Pension and Other Postretirement Benefit Plans - Information for Pension Plans with an Accumulated Benefit Obligation in Excess of Plan Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Jun. 30, 2016
Projected and accumulated benefit obligation	$ 117,250	$ 127,528
Fair value of plan assets	$ 92,758	$ 91,982

Note M - Pension and Other Po76

Note M - Pension and Other Postretirement Benefit Plans - Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Pension Plan [Member]
Interest cost	$ 4,213	$ 4,968	$ 4,862
Expected return on plan assets	(5,902)	(6,874)	(7,272)
Amortization of transition obligation	35	33	36
Amortization of prior service cost	66	59
Amortization of actuarial net loss	3,591	3,627	2,436
Net periodic benefit cost	3,012	2,583	527
Service cost	1,009	770	465
Other Postretirement Benefits Plan [Member]
Interest cost	420	604	579
Amortization of actuarial net loss	230	728	638
Net periodic benefit cost	671	1,360	1,247
Service cost	$ 21	$ 28	$ 30

Note M - Pension and Other Po77

Note M - Pension and Other Postretirement Benefit Plans - Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Pension Plan [Member]
Amortization of prior service cost	$ (66)	$ (59)
Amortization of net (loss) gain	(3,613)	(3,627)	$ (2,436)
Total recognized in other comprehensive income	(12,781)	11,853	6,934
Net periodic benefit cost	3,012	2,583	527
Total recognized in net periodic benefit cost and other comprehensive income	(9,769)	14,436	7,461
Net gain	(9,057)	15,514	9,406
Prior service cost	(10)	58
Amortization of transition asset	(35)	(33)	(36)
Other Postretirement Benefits Plan [Member]
Amortization of prior service cost
Amortization of net (loss) gain	(230)	(728)	(638)
Total recognized in other comprehensive income	(3,610)	(232)	244
Net periodic benefit cost	671	1,360	1,247
Total recognized in net periodic benefit cost and other comprehensive income	(2,939)	1,128	1,491
Net gain	(3,380)	496	882
Prior service cost
Amortization of transition asset

Note M - Pension and Other Po78

Note M - Pension and Other Postretirement Benefit Plans - Schedule of Assumptions (Details)	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Pension Plan [Member]
Discount rate	3.51%	3.35%
Expected return on plan assets	6.68%	6.57%
Discount rate	3.35%	4.05%	4.06%
Expected return on plan assets	6.57%	7.11%	7.39%
Other Postretirement Benefits Plan [Member]
Discount rate	3.41%	3.27%
Expected return on plan assets
Discount rate	3.27%	3.93%	3.76%
Expected return on plan assets

Note M - Pension and Other Po79

Note M - Pension and Other Postretirement Benefit Plans - Pension Plan Weighted-Average Asset Allocations (Details)	Jun. 30, 2017	Jun. 30, 2016
Target Allocation	100.00%
Actual Allocation	100.00%	100.00%
Equity Securities [Member]
Target Allocation	65.00%
Actual Allocation	65.00%	63.00%
Debt Securities [Member]
Target Allocation	25.00%
Actual Allocation	25.00%	25.00%
Real Estate [Member]
Target Allocation	10.00%
Actual Allocation	10.00%	12.00%

Note M - Pension and Other Po80

Note M - Pension and Other Postretirement Benefit Plans - Plan Assets Using Fair Value Hierarchy (Details) - USD ($) $ in Thousands		Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Fair Value, Inputs, Level 3 [Member]
Plan Assets		$ 7,779	$ 9,031	$ 9,508
Pension Plan [Member]
Plan Assets		94,372	94,164	$ 104,681
Cash and Cash Equivalents [Member] | Pension Plan [Member]
Plan Assets		1,203	1,143
Cash and Cash Equivalents [Member] | Pension Plan [Member] | Fair Value, Inputs, Level 1 [Member]
Plan Assets		1,203	1,143
Cash and Cash Equivalents [Member] | Pension Plan [Member] | Fair Value, Inputs, Level 2 [Member]
Plan Assets
Cash and Cash Equivalents [Member] | Pension Plan [Member] | Fair Value, Inputs, Level 3 [Member]
Plan Assets
Investments Measured at Net Asset Value, Fixed Income Funds [Member] | Pension Plan [Member]
Plan Assets		20,819	20,842
Company Common Stock [Member] | Pension Plan [Member]
Plan Assets	[1]	1,585	1,055
Company Common Stock [Member] | Pension Plan [Member] | Fair Value, Inputs, Level 1 [Member]
Plan Assets	[1]	1,585	1,055
Company Common Stock [Member] | Pension Plan [Member] | Fair Value, Inputs, Level 2 [Member]
Plan Assets	[1]
Company Common Stock [Member] | Pension Plan [Member] | Fair Value, Inputs, Level 3 [Member]
Plan Assets	[1]
Investments Measured at Net Asset Value, Equity Securities [Member] | Pension Plan [Member]
Plan Assets		4,760	3,793
Common Stock [Member] | Pension Plan [Member]
Plan Assets	[1]	23,263	22,440
Common Stock [Member] | Pension Plan [Member] | Fair Value, Inputs, Level 1 [Member]
Plan Assets	[1]	23,263	22,440
Common Stock [Member] | Pension Plan [Member] | Fair Value, Inputs, Level 2 [Member]
Plan Assets	[1]
Common Stock [Member] | Pension Plan [Member] | Fair Value, Inputs, Level 3 [Member]
Plan Assets	[1]
Investments Measured at Net Asset Value, Real Estate [Member] | Pension Plan [Member]
Plan Assets		8,566	10,537
Mutual Fund [Member] | Pension Plan [Member]
Plan Assets	[2]	11,259	11,432
Mutual Fund [Member] | Pension Plan [Member] | Fair Value, Inputs, Level 1 [Member]
Plan Assets	[2]	11,259	11,432
Mutual Fund [Member] | Pension Plan [Member] | Fair Value, Inputs, Level 2 [Member]
Plan Assets	[2]
Mutual Fund [Member] | Pension Plan [Member] | Fair Value, Inputs, Level 3 [Member]
Plan Assets	[2]
Investments Measured at Net Asset Value, Hedge Funds [Member] | Pension Plan [Member]
Plan Assets		15,138	13,891
Annuity Contracts [Member] | Pension Plan [Member]
Plan Assets	[3]	7,779	9,031
Annuity Contracts [Member] | Pension Plan [Member] | Fair Value, Inputs, Level 1 [Member]
Plan Assets	[3]
Annuity Contracts [Member] | Pension Plan [Member] | Fair Value, Inputs, Level 2 [Member]
Plan Assets	[3]
Annuity Contracts [Member] | Pension Plan [Member] | Fair Value, Inputs, Level 3 [Member]
Plan Assets	[3]	7,779	9,031
Investments Measured at Net Asset Value [Member] | Pension Plan [Member]
Plan Assets	[4]	49,283	49,063
Assets Exncluding Investments Measured at Net Asset Value [Member] | Pension Plan [Member]
Plan Assets		45,089	45,101
Assets Exncluding Investments Measured at Net Asset Value [Member] | Pension Plan [Member] | Fair Value, Inputs, Level 1 [Member]
Plan Assets		37,310	36,070
Assets Exncluding Investments Measured at Net Asset Value [Member] | Pension Plan [Member] | Fair Value, Inputs, Level 2 [Member]
Plan Assets
Assets Exncluding Investments Measured at Net Asset Value [Member] | Pension Plan [Member] | Fair Value, Inputs, Level 3 [Member]
Plan Assets		$ 7,779	$ 9,031
[1]	Common stock is valued at the closing price reported on the active market on which the individual securities are traded. These securities include U.S. equity securities invested in companies that are traded on exchanges inside the U.S. and international equity securities invested in companies that are traded on exchanges outside the U.S.
[2]	Mutual funds are valued at the daily closing price as reported by the fund. Mutual funds held by the Company’s funded benefit plans are open-end mutual funds that are registered with the Securities Exchange Commission. These funds are required to publish their daily net asset value (“NAV”) and to transact at that price. The mutual funds held by the Company’s funded benefit plans are deemed to be actively traded.
[3]	Annuity contracts represent contractual agreements in which payments are made to an insurance company, which agrees to pay out an income or lump sum amount at a later date. Annuity contracts are valued at the net present value of future cash flows.
[4]	In accordance with ASC 820-10, certain investments that were measured at net asset value per share (or its equivalent) have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the fair value of plan assets at the end of the year.

Note M - Pension and Other Po81

Note M - Pension and Other Postretirement Benefit Plans - Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets (Details) - Fair Value, Inputs, Level 3 [Member] - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Fair value of assets, Balance	$ 9,031	$ 9,508
Actual return on plan assets:
Relating to assets still held at reporting date	659	38
Purchases, sales and settlements, net	(1,911)	(619)
Transfers in and/or out of Level III		104
Fair value of assets, Balance	$ 7,779	$ 9,031

Note M - Pension and Other Po82

Note M - Pension and Other Postretirement Benefit Plans - Defined Benefit Plan Estimated Future Benefit Payments (Details) $ in Thousands	Jun. 30, 2017USD ($)
Pension Plan [Member]
2018 - Pension Benefits	$ 10,890
2019 - Pension Benefits	9,399
2020 - Pension Benefits	9,161
2021 - Pension Benefits	8,681
2022 - Pension Benefits	8,130
Years 2023 - 2027 - Pension Benefits	35,760
Other Postretirement Benefits Plan [Member]
2018 - Other Postretirement Benefits, Gross Benefits	1,682
2019 - Other Postretirement Benefits, Gross Benefits	1,348
2020 - Other Postretirement Benefits, Gross Benefits	1,238
2021 - Other Postretirement Benefits, Gross Benefits	1,144
2022 - Other Postretirement Benefits, Gross Benefits	1,044
Years 2023 - 2027 - Other Postretirement Benefits, Gross Benefits	$ 3,907

Note N - Income Taxes (Details

Note N - Income Taxes (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Deferred Tax Assets, Valuation Allowance	$ 3,803	$ 3,123
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	680
Undistributed Earnings of Foreign Subsidiaries	3,667
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	827
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	$ 94	$ 61
Foreign Tax Authority [Member] | Earliest Tax Year [Member]
Open Tax Year	2,013
Foreign Tax Authority [Member] | Latest Tax Year [Member]
Open Tax Year	2,017
Domestic Tax Authority [Member] | Earliest Tax Year [Member]
Open Tax Year	2,013

Note N - Income Taxes - Domesti

Note N - Income Taxes - Domestic and Foreign Earnings Before Income Taxes and Minority Interest (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
United States	$ (13,048)	$ (29,293)	$ 5,614
Foreign	3,519	3,998	10,286
(Loss) earnings before income taxes and noncontrolling interest	$ (9,529)	$ (25,295)	$ 15,900

Note N - Income Taxes - Provisi

Note N - Income Taxes - Provision (Benefit) for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Currently payable:
Federal	$ (191)	$ (1,683)	$ 1,607
State	251	136	518
Foreign	771	1,468	2,832
Current	831	(79)	4,957
Deferred:
Federal	(3,906)	(10,978)	408
State	(706)	(787)	5
Foreign	367	(438)	(855)
Deferred	(4,245)	(12,203)	(442)
Income tax (benefit) expense	$ (3,414)	$ (12,282)	$ 4,515

Note N - Income Taxes - Compone

Note N - Income Taxes - Components of Net Deferred Tax Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Jun. 30, 2016
Deferred tax assets:
Retirement plans and employee benefits	$ 13,755	$ 19,106
Foreign tax credit carryforwards	7,620	8,887
Federal tax credits	1,131	191
State net operating loss and other state credit carryforwards	1,213	768
Federal net operating loss	2,299
Inventory	1,992	1,775
Reserves	833	1,544
Foreign NOL carryforwards	3,606	3,176
Accruals	460	522
Other assets	665	678
Gross deferred tax assets	33,574	36,647
Deferred tax liabilities:
Property, plant and equipment	5,488	6,329
Intangibles	971	2,011
Other liabilities	125	140
Gross deferred tax liabilities	6,584	8,480
Valuation Allowance	(3,803)	(3,123)
Total net deferred tax assets	$ 23,187	$ 25,044

Note N - Income Taxes - Reconci

Note N - Income Taxes - Reconciliation of U.S. Federal Income Taxes to Actual Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
U.S. federal income tax at 34%	$ (3,240)	$ (8,601)	$ 5,491
Increases (reductions) in tax resulting from:
Foreign tax items	(179)	(2,525)	362
State taxes	(499)	(374)	32
Valuation allowance	(47)	(1,288)	(1,121)
Change in prior year estimate	899	473	157
Research and development tax credits	(230)	(348)	(337)
Section 199 deduction			(96)
Unrecognized tax benefits	65	(21)	5
Goodwill impairment		420
Other, net	(183)	(18)	22
Income tax (benefit) expense	$ (3,414)	$ (12,282)	$ 4,515

Note N - Income Taxes - Recon88

Note N - Income Taxes - Reconciliation of U.S. Federal Income Taxes to Actual Income Taxes (Details) (Parentheticals)	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Federal Income Tax	34.00%	34.00%	34.00%

Note N - Income Taxes - Recon89

Note N - Income Taxes - Reconciliation of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Unrecognized tax benefits, beginning of year	$ 790	$ 810
Additions based on tax positions related to the prior year		12
Additions based on tax positions related to the current year	55	172
Reductions based on tax positions related to the prior year	(13)	(4)
Subtractions due to statutes closing	(5)	(179)
Settlements with Taxing Authorities		(21)
Unrecognized tax benefits, end of year	$ 827	$ 790

Note P - Restructuring of Ope90

Note P - Restructuring of Operations (Details Textual) $ in Thousands	12 Months Ended			25 Months Ended
	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2017USD ($)
Restructuring and Related Cost, Number of Positions Eliminated				158
Restructuring Charges	$ 1,791	$ 921	$ 3,282	$ 5,875
Disposal Group, Distribution Rights and Certain Assets [Member]
Proceeds from Sale of Productive Assets		4,100
Disposal Group, Distribution Rights [Member]
Proceeds from Sale of Productive Assets		600
Other Operating Income		445
Disposal Group, Certain Assets [Member]
Proceeds from Sale of Productive Assets		$ 3,500
India Factory [Member]
Impairment of Long-Lived Assets to be Disposed of	$ 96

Note P - Restructuring of Ope91

Note P - Restructuring of Operations - Roll-forward of Restructuring Activity (Details) - USD ($) $ in Thousands	12 Months Ended			25 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2017
Accrued restructuring liability	$ 801	$ 3,776
Additions	1,791	921	$ 3,282	$ 5,875
Payments and adjustments	(2,500)	(3,896)
Accrued restructuring liability	$ 92	$ 801	$ 3,776	$ 92

Schedule II - Valuation and Q92

Schedule II - Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands		12 Months Ended
		Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Allowance for Trade Receivables [Member]
Balance at Beginning of Period		$ 1,824	$ 2,183	$ 3,637
Charged to Costs and Expenses		127	237	304
Deductions	[1]	432	596	1,758
Balance at End of Period		1,519	1,824	2,183
Valuation Allowance of Deferred Tax Assets [Member]
Balance at Beginning of Period		3,123	3,577	5,593
Charged to Costs and Expenses		826	257	805
Deductions	[1]	146	711	2,821
Balance at End of Period		$ 3,803	$ 3,123	$ 3,577
[1]	Activity primarily represents amounts written-off during the year, along with other adjustments (primarily foreign currency translation adjustments).